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 [...]
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 [...]
Filed in Launching..., Liquidity, Open engines, Pricing, Recession busters..., Regulatory, Restructuring, Trading, Transparency
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Also tagged CFTC, confidence, Congress, economic justice, economy, exchange, OTC
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Wednesday, March 24, 2010
US Senate Financial Reform Managers Amendment Summary, March 23, 2010 View more documents from catelong.
Filed in Open engines, Regulatory, Restructuring, Transparency
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Also tagged broker dealers, Congress, FDIC, Federal Reserve, hedge funds, SEC, securities, underwriting, Wall Street
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Amendments to Dodd bill – HT — Shahien at Huffpo
Filed in Launching..., Open engines, Regulatory, Restructuring, Transparency
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Also tagged audit the Fed, CDS, Congress, Federal Reserve, markup, SEC, securities, swaps, Wall Street, Washington
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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 [...]
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 [...]
Friday, February 26, 2010
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 [...]
Tuesday, February 16, 2010
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 [...]
Saturday, February 13, 2010
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 [...]