The Senate Agriculture Committee heard testimony Wednesday from three nominees to the Commodity Futures Trading Commission. Walt Lukken, Bart Chilton, and Scott O'Malia have been nominated to the CFTC by President Bush. O'malia and Chilton were selected as commissioners and Lukken was nominated to chair the group.
"The Commodity Futures Trading Commission has vast responsibilities that require a full Commission and a Chairman, and this Committee is tasked with filling these positions to ensure that the Commission is able to function appropriately," says Ranking Member of the Senate Agriculture Committee Saxby Chambliss, R-Ga. "Last month Congress passed legislation reauthorizing the CFTC and requiring changes to the Commodity Exchange Act. It is now our responsibility to ensure that the CFTC has a completely seated Commission and Chairman in order to properly implement this important legislation. The Commission will be well served if these nominees are confirmed by the Senate."