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