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Mike Konczal at Rortybomb talking about a "trading facility". This is basically a half-assed attempt to pacify those who are asking for registered exchanges. Registered exchanges would give more transparency to the derivatives market. The dealers of derivatives who control the market don't want transparency for derivatives, so they are trying to turn this into a sad joke before the legislation is even voted on.
Matthew Leising at Bloomberg, with the original report on the Senate Agricultural Committee taking wording out of the Senate financial reform bill. Blanche Lincoln is the culprit here and it will be interesting to see which member of the Senate's Agricultural Committee is taking dirty money to water down the bill by taking out important wording.
Matthew Leising proves true journalism still exists. Hat tip to Mike Konczal
James Kwak and Simon Johnson write an article over at "The American Prospect" magazine. In the June issue. Highly recommended.
Michael Greenberger on the over-the counter (OTC) derivatives market. Also at "The American Prospect" magazine.
Steve Randy Waldman does an outstanding breakdown on the ABACUS deal by Goldman Sachs. The links after the jump, that Waldman includes, are also superb. THIS IS A MUST READ.
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