The Commodity Futures Trading Commission is so cash-starved that the agency is being forced to delay cases, shelve certain probes and decided not to file charges against two former traders over J.P. Morgan Chase & Co.'s "London whale" trading mess, the Wall Street Journal reported yesterday. David Meister, who stepped down this week as the CFTC's enforcement chief, said that the agency is "absolutely undersized" for the sprawling futures and options markets it must police. The former prosecutor's warning came on Wednesday, his last day at the CFTC after a near-three-year enforcement stint.
