dagblog - Comments for "A Secretive Banking Elite Rules Trading in Derivatives"

sdf — Sun, 19 Dec 2010 03:45:08 +0000

In reply to A Secretive Banking Elite Rules Trading in Derivatives

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sdf — Fri, 17 Dec 2010 05:00:50 +0000

In reply to A Secretive Banking Elite Rules Trading in Derivatives

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Holy overlap, Batman.

moat — Mon, 13 Dec 2010 01:08:16 +0000

In reply to I guess it is good news is

Holy overlap, Batman.

I guess it is good news is

EmmaZahn — Mon, 13 Dec 2010 00:22:01 +0000

In reply to A Secretive Banking Elite Rules Trading in Derivatives

I guess it is good news is that the NY Times has decided to take on some NY banks. Sad though that it has taken more than two years for them to discover this 'inner circle' and still they neglect to report the group's more relevant connection.

For example, compare the firms in this graf:

None of the three clearinghouses would divulge the members of their risk committees when asked by a reporter. But two people with direct knowledge of ICE’s committee said the bank members are: Thomas J. Benison of JPMorgan Chase & Company; James J. Hill of Morgan Stanley; Athanassios Diplas of Deutsche Bank; Paul Hamill of UBS; Paul Mitrokostas of Barclays; Andy Hubbard of Credit Suisse; Oliver Frankel of Goldman Sachs; Ali Balali of Bank of America; and Biswarup Chatterjee of Citigroup.

to the Federal Reserve's Primary Dealer list:

List of the Primary Government Securities Dealers Reporting to the Government Securities Dealers Statistics Unit of the Federal Reserve Bank of New York

BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated (Banc of America merged into 11/011/10)
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
UBS Securities LLC.

Primary Dealers come and go but the FRB-NY has a list of changes since 1999 here. Former Primary Dealers include: Bear, Stearns; Lehman Bros; Countrywide.

Now if I can find the basic link sitting out here in East Podunk, why not the NYT? Too enamoured of Doge Dimon?

This shouldn't be in the

we are stardust — Sun, 12 Dec 2010 19:00:12 +0000

In reply to A Secretive Banking Elite Rules Trading in Derivatives

This shouldn't be in the little In the News Section, Genghis. It's a long piece, but it's pretty important inormation, and I'd expect those with time following fin-reg would love to comment. Mayabe you should stick it in the middle column?

And I still wish you'd move this section somewhere south, or at least ask others. With all due respect to ArtAppraiser, of course. ;o)

I dunno if you get the dead

artappraiser — Sun, 12 Dec 2010 18:58:05 +0000

In reply to A Secretive Banking Elite Rules Trading in Derivatives

I dunno if you get the dead tree edition, but it shows the Times' news editors are very proud of this piece; today it is the page A1 headline, and a two-column, large-point one at that..and lots of people buy the Times' Sunday paper on serendipity on news stands and at book stores, where they would see the headline. The sub-headline is Clubby Clearinghouses Limit Compeition and Consumers Face Higher Prices.