Shadow-Banking

Clinton Signs Commodity Futures Modernization Act, Cementing Derivatives Deregulation

2000-12-21 00:00:00 +0000 UTC | 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

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