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Commodities Briefing - Categorized | Commodities Exchanges, Futures and Options, Regulatory more

Swaps need regulation after bank losses, Gensler says

Posted on 26 February 2009

From Bloomberg: Gary Gensler, the nominee to head the Commodity Futures Trading Commission, is dogged by a decade- old debate with former Chairman Brooksley Born over whether to regulate private derivative contracts blamed in part for $1 trillion in global bank losses.

The Baltimore native, then working for Treasury Secretary Robert Rubin, was on the side that opposed oversight by the CFTC, the watchdog for $5 trillion in commodity and financial futures. …. Full Article: Source


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