Gary Gensler: “It is not a nanny government. The investors can take the risk as long as they get enough information.”

The CFTC, I love, it is a great agency, but it was set up to do the derivatives.

Actually, sir, we follow the mandate. In 1996, Congress put in our statute that we had to do economic analysis, and we follow that.

I think that the Congress' wisdom was to have an agency to oversee disclosure-based markets where issuers are asking the public to buy and sell their securities.

I do share your concerns that this is a field that is rife with fraud and manipulation and scams.