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Treasury Secretary Geithner’s “Proposed OTC Act created new and significant loopholes”

From Michael Greenberger, former CFTC General Counsel, at the  Make Markets Be Markets conference. (HT Credit Risk Chronicles) Pending Derivatives Legislation and Legislative Proposals The Obama Administration White Paper In response to the catastrophic systemic failure caused by unregulated derivatives, the Obama Administration in its June 2009 White Paper proposed that all standardized OTC derivatives be subject to […]

German brilliance in making the law clear…

If we want market participants to follow the law we should expose the rules and law in a way that makes it more accessible…. we can follow the excellent example of the German securities regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) who has an excellent search tool that allows users to… Search supervisory legislation The supervisory legislation search function […]

Global hot money flows…

Taxing the Speculators by Paul Krugman 223. Cate Long Washington, DC November 27th, 2009 2:35 pm Outstanding column Professor Krugman: Taxing securities transaction already happens in the Unites State under SEC Section 31 fees. These fees for stocks and options are overseen by the SEC and administered by the exchanges and FINRA. Taxing options, derivatives […]

Banks’ reluctance to lend will limit the ability of some businesses to expand and hire

I’m reblogging George Washington’s blog again… The problem our nation faces is a structural economic problem… the too-big-to-fail banks are too concentrated and are not lending to small business (which they never really did)… but the jobs in our economy are mostly concentrated in smaller firms… so when credit is choked off to them unemployment […]

The black swan on systemic renewal