Wall Street Derivatives Dealers

Wall Street Derivatives Dealers

Clinton Signs Commodity Futures Modernization Act, Cementing Derivatives Deregulation

| Importance: 10/10

President Bill Clinton signed the Commodity Futures Modernization Act (CFMA) into law on his last day before Christmas recess, completing the deregulation of the derivatives market that Brooksley Born had warned against two years earlier. The legislation, inserted into a 10,000-page authorization …

Bill Clinton Lawrence Summers Phil Gramm Alan Greenspan Wall Street derivatives dealers derivatives deregulation cfma financial-crisis credit-default-swaps +1 more
Read more →

Lawrence Summers Becomes Treasury Secretary, Accelerates Derivatives Deregulation Campaign

| Importance: 8/10

The U.S. Senate confirms Lawrence Summers as the 71st Secretary of the Treasury, replacing Robert Rubin and continuing the aggressive deregulation agenda. Summers had spent the previous year as Deputy Secretary orchestrating opposition to derivatives regulation, including making an “irate …

Lawrence Summers Bill Clinton Robert Rubin U.S. Senate Wall Street Derivatives Dealers treasury derivatives deregulation revolving-door financial-crisis +2 more
Read more →