Editorials & Other Articles

Bill USA

(6,436 posts) Thu Sep 3, 2015, 05:58 PM Sep 2015

U.S. banks moved billions in trades beyond CFTC's reach - Reuters

http://www.reuters.com/article/2015/08/21/usa-banks-swaps-idUSL3N10S57R20150821

Aug 21 (Reuters) - This spring, traders and analysts working deep in the global swaps markets began picking up peculiar readings: Hundreds of billions of dollars of trades by U.S. banks had seemingly vanished.

"We saw strange things in the data," said Chris Barnes, a former swaps trader now with ClarusFT, a London-based data firm.

The vanishing of the trades was little noted outside a circle of specialists. But the implications were big.

The missing transactions reflected an effort by some of the largest U.S. banks - including Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Morgan Stanley - to get around new regulations on derivatives enacted in the wake of the financial crisis, say current and former financial regulators.
(more)

4 replies

= new reply since forum marked as read

Highlight:

U.S. banks moved billions in trades beyond CFTC's reach - Reuters (Original Post) Bill USA Sep 2015 OP

They ARE a creative ot, aren't they?? n/t dixiegrrrrl Sep 2015 #1

Goldman Sachs, JP Morgan Chase, Citigroup and Morgan Stanley. Where have I heard those before? Scuba Sep 2015 #2

Ironic that this got posted again davidpdx Sep 2015 #3

Oh for fucks sake... Volaris Sep 2015 #4

dixiegrrrrl

(60,010 posts)

1. They ARE a creative ot, aren't they?? n/t

Reply to Bill USA (Original post)

Thu Sep 3, 2015, 08:24 PM

Sep 2015

Scuba

(53,475 posts)

2. Goldman Sachs, JP Morgan Chase, Citigroup and Morgan Stanley. Where have I heard those before?

Reply to Bill USA (Original post)

Fri Sep 4, 2015, 08:04 AM

Sep 2015

Oh yeah ...

davidpdx

(22,000 posts)

3. Ironic that this got posted again

Reply to Scuba (Reply #2)

Sat Sep 5, 2015, 09:05 AM

Sep 2015

One would almost expect the OP to be alerted on like the other one.

Volaris

(10,266 posts)

4. Oh for fucks sake...

Reply to Bill USA (Original post)

Sat Sep 5, 2015, 09:46 AM

Sep 2015

Break them up. Jail their CEO's, and outlaw paid lobbying as a federal felony with a minimum sentence of one year.
Then jack their business income tax rate to 80%, just to be sure they understand that if we're going to live in a global economy that We The People that make up that global economy aren't going to be any more happy with the intentional destruction of Europe's economy than we would be with our own.

ON EDIT
The supply and control of a nations sovereign currency should absolutely belong to the citizens of that nation
Banking at National finance levels, should be a form of publicly owned utility, not different than health care as a Right; Public Airwaves, or the funding of the Navy...and for damned sure not privately owned or controlled.

Jail these fuckers, and take their toys away from them for a while.

Reply to this discussion