A day after the Obama administration sought new powers to regulate speculators, Sen. Bernie Sanders today lifted his objection to a Senate vote on President Obama's nominee to oversee commodity markets. "As a result of the greed, recklessness and illegal behavior of Wall Street, our country has been thrown into a deep recession which has caused intense suffering for millions," Sanders said. "We need to end the current era of financial deregulation which largely caused this crisis, and move to a Wall Street which understands the need for long-term productive investment and job creation rather than short-term profits, outrageous salaries and a bubble economy." Sanders met with Gary Gensler, the president's pick to chair the Commodity Futures Trading Commission, to discuss the regulatory reform package that Sanders called a major step forward.

To read the press release and Mr. Gensler's response to the senator's questions, click here.