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Tag Archives: derivatives

6 things worth fighting for in the Senate bill

Excellent table via Rortybomb… although it’s actually 7 or 8 things worth fighting for in the Senate financial reform bill… Mr. Rortybomb misses a big one related to legislation on the Federal Reserve… Ryan Grim of HuffPo writes about it the grant of $4 trillion of lending authority to the Federal Reserve with no Congressional […]

Glorious sunlight…

It’s so refreshing to see this lovely video of Senator Blanche Lincoln talk about her derivatives reform legislation… here is her draft… Somehow I sense the hand of CFTC Chairman Gensler in this process… and the spirit of House Agriculture Chairman Collin Peterson… yes… substantive forces to rein in Wall Street on derivatives are at […]

Summary of amendments to the March Dodd draft

US Senate Financial Reform Managers Amendment Summary, March 23, 2010 View more documents from catelong.

Spreadsheet of amendments to the Dodd draft

 

Summary of amendments to the Dodd draft

Amendments to Dodd bill – HT — Shahien at Huffpo

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 […]

Financial reform — sure — repudiate OTC derivatives

Repost from Chris Whalen’s Institutional Risk Analyst: ~~~ “…  Thus we extend and pretend, a policy choice that ensures years of economic stagnation and perhaps even a new financial crisis when non-bank financial institutions start to fail due to ZIRP and the related predations of OTC derivatives. The Fed argues that the large banks cannot be restructured […]

The more transparent a marketplace, the more liquid it is, the more competitive it is

Transparency creates stability in financial markets… this is a foundational precept of our system but is rarely argued… the following is from a speech by CFTC Chairman Gensler to the “Energy Bar Association” on February 24th… ~~~ Transparent Trading Requirement “… It is not enough, though, simply to promote transparency to the regulators. Financial reform […]

Financial, economic and political linkages

The struggles that Greece is facing  to reform it’s fiscal situation are ones that Portugal, Italy, the UK, California, Illinois, New Jersey and others  will face… substantial debt loads with diminishing revenue sources and large social commitments… we’ll see this story be replayed over and over… and that doesn’t even take into account the potential nuclear […]

Unraveling the profit puzzle at Goldman Sachs II

The bits and pieces are being assembled into a mosaic which is revealing the true enablers of the global credit crisis… And it’s the trading houses like Goldman Sachs who created financial products, sold them off and then bet against the products they originally created… and often these bits of wizardry were designed to live off […]