04/27/2010 05:12 am ET Updated May 25, 2011

Gary Gensler CFTC Chairman: Three Key Reforms Will Prevent Another Derivatives 'Inferno'

In the autumn of 2008, certain financial institutions kicked over the lantern that set off the financial crisis -- a fire that nearly burned down the global economy. In America, more than a year later, unemployment is at nearly 10 per cent. Most of those who have lost their jobs never used the flammable financial contracts that helped create the crisis. As regulators, we have a responsibility to establish codes that will ensure the concentrated, opaque derivatives market never again brings the financial system to the brink of collapse.