Fix Derivatives News Today

The financial reform bill. a bill that is looking tough on transparency and derivatives but as you know by now misses the boat or in this case the cruise ship on too big to fail. not to mention the conflict of interest that is the regulators ratings agencies and so-called cops and police who work night and day to accommodate the desires of the crooks. democrats today pushing to open floor debate. republicans saying they dont want to be rushed. its only been two years since the financial meltdown...

You want federal guarantees, then what you do must be good for the economy which means lending, mortgages, capital to businesses, you want to play in a casino, you go with your own money. no leverage. no risk. well size you down so that you do not put us at risk in this too big to fail risk and reward which is what we live with. >> denying them the ability to have their cake and eat it, too. >> precisely. >> if you were to look at the resistance to that, the primary resistance is what? >> the pr...

Im thinking about goldman sa ms where they pick bonds and underwritings and say i believe they wont be worth this much going forward, lets semisell t for a lot now and buy insurance on them. whats the merit to derivatives used in secret in that form? >> we have to bring transparency to the whole marketplace. they shouldnt be in secret. and we have to lower the cost and the risk to american public. the public should not stand behind these institutions. they shouldnt bail out these institutions. t...

Lawsuit. exactly what benefit do these types of derivatives provide in the form of lending and investment in our country other than adding $28 billion in trading revenue to the banks books while they trade with wide spreads and secret. why give these people money to do that? here are three typical arguments youll hear. one, the need to ensure the price of food or energy. think about that. food crops being protected against a natural disaster or in the case of an orange grove in florida, an unexp...

Open bet between two parties that unfortunately amount to a huge percentage of the actual derivatives you see in that 600 trillion. we know how that worked out. it allowed goldman sachs to place multimillion dollar bets if you dont pay us down uncle sam will take down your economy or take down your pension. thats a nasty debt to pay off a gambler. if we buy into this, what could possibly be a legitimate reason for trading those contracts in secret? why do we let big banks bet on such a huge scal...

Risky. he says advance lime forms who contact us may be "looking to conquer" and compares it to what happened to native americans after columbus arrived in the new world and what are the odds of that happening? scientists use the drake equation to calculate the number of other intelligent civ civilizations in the galaxy. about 10,000 of them. if aliens were to decide to make contact for obvious reasons, well have our fingers crossed that were dealing with et. what ceo lloyd blankfein will stay...

Joining us now, commissioner, pleasure to see you. i wont debate the merit of these instruments. its clear i can create smoothing and price volatility reduction for agriculture, for energy, why is it that those types of derivatives and well start with that first class has to be traded in secret? >> its good to be back with you. we need to bring broad reform. i think thats what the senate will do this week to as you say bring sunshine to this dark market. we need the transparency to bring all of ...

I sell them the derivatives. the whole thing melts. aig has insurance on it under your law how is it different. not your law but this proposal how would that be different? >> as a federal regulator, i hope you allow me not to comment on that case the s.e.c. brought. >> im looking so everyone understands. >> ill put it in context of aig. aig, this big insurance company, did not have effective federal regulation. were saying under the new law next day aig would have to have capital and margin as a...

Very serious way. they need to make a lot less money. >> forget displeasing the republicans, what about displeasing barney frank who doesnt have an end to too big to fail in the reform to this day and has more liberal derivatives regulations than the senate bill. >> i think we got stomped on with derivatives. thats the weakest part of the bill. i would have supported much tougher regulation of derivatives. if they can get that out of the senate, ill fight like hell in the house to get it through...

Speculation in the capital markets from those activities that the lending portion of banking does not pay the kind of money that it did in recent years let alone prior to existence of technology. how much fight do you expect from banks who are desperate to keep one of the last remaining parts of profit they have which has been derivatives trading? >> they have a fiduciary duty. they want higher profits. our role in washington is to lower the cost to the american people and shine light on these m...