Results 1 to 5 of 5

Thread: A Secretive Banking Elite Rules Trading in Derivatives

  1. #1
    Havakasha is offline

    A Secretive Banking Elite Rules Trading in Derivatives

    By Louise Story

    A COST TO EVERYONE Gary Gensler of the Commodity Futures Trading Commission says the current system “adds up to higher costs to all Americans.”


    On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.

    The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.

    Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk.
    http://www.nytimes.com/2010/12/12/bu...advantage.html
    Last edited by Havakasha; 12-12-2010 at 12:04 AM.

  2. #2
    Havakasha is offline
    Fascinating article. Comments anyone?

  3. #3
    Havakasha is offline
    Still no comments? Anyone surprised by this info?

  4. #4
    Atypical is offline
    Quote Originally Posted by Havakasha View Post
    Still no comments? Anyone surprised by this info?
    Nope. Not surprised by anything anymore.

    Jaded? You bet.

    Thanks for the post.

  5. #5
    Havakasha is offline
    Well i am not shocked you arent surprised.

    Nice to read a well researched article.

  6. Ad Fairy Senior Member

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •