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Enron Mail |
what do you think?
----- Forwarded by Steven J Kean/NA/Enron on 02/13/2001 02:55 PM ----- Richard Shapiro 02/12/2001 09:49 AM To: Steven J Kean/NA/Enron@Enron cc: Subject: CFTC Chair Let's discuss. ---------------------- Forwarded by Richard Shapiro/NA/Enron on 02/12/2001 09:48 AM --------------------------- From: Lisa Yoho on 02/12/2001 07:37 AM PST To: Richard Shapiro/NA/Enron@Enron cc: Subject: CFTC Chair Rick -- Let's discuss when you have a minute. Thanks, Lisa ----- Forwarded by Lisa Yoho/NA/Enron on 02/12/2001 07:36 AM ----- Chris Long 02/12/2001 07:23 AM To: Linda Robertson/NA/Enron@ENRON, Lora Sullivan/Corp/Enron@ENRON, Allison Navin/Corp/Enron@ENRON cc: Lisa Yoho/NA/Enron@Enron Subject: CFTC Chair Jim Newsome is currently the Interim Chair of the Commodities Futures Trading Commission (CFTC). He was appointed in 1998 to term which expires in June 2001. Commissioner Newsome visited Enron in 1999 and will again visit Enron to meet with Jeff Skilling (also EnronOnLine executives) on March 6, 2001. The CFTC has 5 Commissioners. Commissioners Newsome and Spears are Republicans and Commissioners Erickson and Holum are Democrats, with one opening. If Newsome becomes Chair, then there will be two open seats. If Newsome if passed over, there will only be open seat. Commissioner Newsome has the support of Majority Trent Lott. He is well liked in industry because of his free market philosophy and belief in competition and deregulation. While not a technical expert, he is a "known quantity" at the Commission. Newsome played a major role in the Commodities Futures Modernization Act (CFMA) which became law last Congress. This law brought legal certainty and modernization to the commodity trading community. With Newsome, industry is consulted before regulations are issued. Industry generally believes that Commission Newsome is the right candidate to oversee the CFMA rulekmaking which is currently underway. The other candidate for the position was former North Carolina Senator Lauch Faircloth whose nomination was being championed by Senator Phil Gramm (R-TX). We have learned that Faircloth has lost interest, because he would have to divest sizeable interest in agriculture holdings. The concern now is that because this is a third tier appointment, unknown candidates will suddenly appear without industry input. A quick nomination and confirmation of Commissioner Newsome as Chairman is recommended by many in the industry. Do you think it appropriate to have Ken Lay raise this nomination with the transition team? Commisioner Newsome's bio: http://www.cftc.gov/opa/newsome.htm For more information on the CFTC: http://www.cftc.gov/
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