The President’s Working Group on Financial Markets issues a unanimous report recommending that over-the-counter derivatives be explicitly exempted from federal regulation, directly repudiating CFTC Chair Brooksley Born’s 1998 warnings about systemic risk. The report is signed by Treasury …
Lawrence SummersRobert RubinAlan GreenspanArthur LevittBill Rainer+1 morederivativesderegulationcfmafinancial-crisisregulatory-capture+2 more
Hours after CFTC Chair Brooksley Born issues a “Concept Release” requesting public comment on regulating the 9 trillion over-the-counter derivatives market, Fed Chair Alan Greenspan, Treasury Secretary Robert Rubin, and SEC Chair Arthur Levitt issue an unprecedented joint statement …
Brooksley BornAlan GreenspanRobert RubinArthur LevittCFTC+3 morederivatives-regulationregulatory-suppressionbrooksley-borngreenspanrubin+2 more
CFTC Chair Brooksley Born issued a concept release seeking public comment on regulating the $29 trillion over-the-counter derivatives market, warning of systemic risks from unregulated trading. Within hours, Treasury Secretary Robert Rubin, Federal Reserve Chairman Alan Greenspan, and SEC Chairman …
Brooksley BornRobert RubinLawrence SummersAlan GreenspanArthur Levittderivativescftcregulatory-capturefinancial-crisissystemic-risk+2 more