Yer still not too bright . . .
Ratings Game Behind Big Banks’ Derivatives Play
Dec. 12, 2014 3:45 p.m. ET
http://www.wsj.com/articles/ratings-game-behind-big-banks-derivatives-play-heard-on-the-street-1418417119
Why did fierce fighting on Capitol Hill over an arcane piece of financial regulation nearly derail the $1.1 trillion spending bill passed by Congress on Thursday night?
The provision largely repeals a rule that required banks to push some derivatives into subsidiaries that aren’t eligible for government support, such as deposit insurance or access to the Federal Reserve’s discount window. So far, none of the big banks have explained why such a fight was worth having. There has been talk of it helping small businesses and midsize financial firms, or clearing up regulatory inconsistencies.
That rings hollow. As with so much else on Wall Street, short-term profit was the likely motive along with reluctance to give up what is essentially a taxpayer subsidy.
. . . .
Think about it . . .
If frank dodd REALLY ended bankers playing with
derivatives. . . what was this article all about?
Zim.
Mad Poet Strikes Again.
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