AFR in the News: Treasury Department Under Fire for Swaps Decision
Treasury, says AFR’s Marcus Stanley, has decided to exempt “a significant derivatives market from key Dodd-Frank reforms meant to protect the public from financial instability.”
Treasury, says AFR’s Marcus Stanley, has decided to exempt “a significant derivatives market from key Dodd-Frank reforms meant to protect the public from financial instability.”
“It was created… to protect families and the market from dangerous or explosive loans, the same way the Consumer Product Safety Commission protects against explosive toasters.”
“What alarms me most,” says MIT’s John Parsons, “is the narrow scope of the questions that the Staff posed, even had they bothered to do a thorough analysis of those questions.”
Additional investor safeguards should be considered, say two of the five SEC commissioners.
Facing wide criticism, Senate homeland security committee drops plan for a markup, promises to hold a hearing instead.
“Financial reformers have won a small battle in their fight with Wall Street over financial regulation,” Huffington Post reports.