Tag Archives: Treasury

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AFR in the News: A Practical Populist Wins High Praise at Treasury (CQ)

“One area where [Treasury Deputy Secretary Sarah Bloom] Raskin has flexed her muscles is in a new drive to restrict executive compensation at the biggest banks… [T]he Dodd-Frank Act required federal regulators to prohibit pay packaged to bank executives that encouraged inappropriate risk-taking… The matter has been revived in recent months, in part because Raskin has made it a priority, pushing it with Lew and the President himself…”

“We’re very pleased that regulators seem to be returning to the drawing board and thinking about a rule that might actually have some impact,” says Lisa Donner, executive director of the liberal Americans for Financial Reform, adding that Raskin has been a “champion” on the issue.

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AFR Opposes Exempting Forex Swaps and Forwards from Clearing and Exchange Requirements

AFR submitted a joint comment with Professor Michael Greenberger of the University of Maryland on Treasury proposal to exempt foreign exchange swaps and forwards from clearing and exchange trading requirements under Dodd-Frank. The letter pointed out that Treasury had not provided any evidence supporting its case that foreign exchange derivatives did not pose systemic risk, and in fact there is very strong evidence from the 2008 financial crisis and today that they do pose such risks.

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AFR Letter on Transparency in the Forex Market

View the PDF version here ——————————————————————————————————————————– Americans for Financial Reform 1629 K St NW, 10th Floor, Washington, DC, 20006 202.466.1885 February 10th. 2011 The Honorable Timothy Geithner Secretary United States Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC 20220 CC: Chairman Gary Gensler,