Monthly Archives: September 2011

Morgan Stanley’s Stock Price Got Whacked Because Another Genius That Doesn’t Understand Derivatives Wrote An Incorrect Paper That Was Unintentionally Leaked…

Remarkable after all of this time that some people, especially Wall Street analysts, don’t understand the difference between notional and net exposures.  It’s unfortunate that such misunderstandings can still cause such unfortunate results–check it out, as reported by the WSJ.

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The eye of the storm…the CFTC’s and the SEC’s continued shirking of rulemaking responsibilities exacerbates uncertainty…

With each passing day one has to wonder what horrors the CFTC and SEC are contriving to spring on the marketplace when at last they finally awake from this brief period of blatent inaction seeming calm.  It is so absent of … Continue reading

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O’Malia’s Call to Arms . . . Why doesn’t the rest of the CFTC get it?

I spent a fair amount of time this week in my professional capacity (versus the personal capacity in which I write this blog) thinking about the ramifications of the CFTC’s latest NPRs approved for publication in the Federal Register at … Continue reading

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CFTC Completely Ignores Statutory Deadlines Under Dodd-Frank

I’m having a hard time deciding which I despise more: (1) Congress and the President for enacting such flawed legislation; or (2) the regulators for failing to do what they were required to do by that legislation.  Part of me … Continue reading

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Australia needs a derivatives CCP like Greece needs more social wellfare programs…

ISDA’s response to Australia’s discussion paper on the need for establishing an Australian CCP for clearing derivatives. Blurb in Derivatives Intelligence on the same topic. Are we moving towards a situation where every regulator in every country is going to … Continue reading

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Two questions for Gary Gensler…

Just two question Mr. Chairman:  First, if you believe in transparency so much, why did you support an NPR attacking the FIA-ISDA Cleared Derivatives Execution Agreement on the basis of a voluntary annex, which when utilized would have resulted in greater information flows … Continue reading

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