Can confirm @amacker's scoop that Gary Gensler will join the Biden transition and lead its review of financial regulatory agencies

I covered Gensler's tenure as CFTC chair, when he was trying to regulate a then-unregulated part of the derivatives market. It was in the weeds. But Gensler took on big fights with Wall Street that sometimes put him at odds with foreign officials and even others at his agency

From Dec. 2013: "Gensler will leave office as one of the, if not the most, consequential regulators in the aftermath of the 2008 financial crisis, having led the agency through a vast expansion of its powers and a major overhaul of how the government oversees derivatives markets"

From Dec. 2013, just before he left the CFTC: "To his detractors, Gensler is inflexible and pushed policy prescriptions that went too far and will ultimately hurt markets."

That's why this is a meaningful move by Biden's transition team. He's not known for deferring to big banks