Arthur Levitt

President's Working Group Recommends Exempting $80 Trillion Derivatives Market from Regulation

1999-11-05 00:00:00 +0000 UTC | Importance: 9/10

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 Summers Robert Rubin Alan Greenspan Arthur Levitt Bill Rainer +1 more derivatives deregulation cfma financial-crisis regulatory-capture +2 more

Brooksley Born's Derivatives Regulation Warning Systematically Suppressed

1998-05-07 00:00:00 +0000 UTC | Importance: 10/10

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 Born Robert Rubin Lawrence Summers Alan Greenspan Arthur Levitt derivatives cftc regulatory-capture financial-crisis systemic-risk +2 more