Archive for April 28th, 2010

Banks to Congress: “Don’t Fence Us In” – $20 Billion Derivative Revenue at Stake, but Not Future of the Business

Wednesday, April 28th, 2010
Banks to Congress: “Don’t Fence Us In” – $20 Billion Derivative Revenue at Stake, but Not Future of the Business

Congress’ derivative legislation work is stumbling about as the “big banks” press to avoid constraints on their money machine. $20 billion annual revenues is certainly worth fighting for, but it raises an important question: What are they doing with derivatives that is worth $20 billion? »

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