Bart Chilton, a regulator at the Commodity Futures Trading Commission, criticized the "floundering" that kept the stock market shuttered after Hurricane Sandy and said that he plans to urge financial firms and federal authorities to bolster coordination in the face of future calamities, the New York Times DealBook blog reported yesterday. "Now that we have this stark and frankly frightening example to work from, we'd be negligent not to move quickly to make sure that our emergency systems are comprehensive and fully tested," Chilton said. He called for the creation of a private-public task force that would convene in advance of crises like hurricanes. Calling it the Financial Market Multi-Agency Command, Chilton said that the group would mandate technology testing protocols, spell out guidelines for operating in a crisis and potentially sketch a timetable for recovery efforts.
