The Derivative Project

Derivatives Regulation

Rewriting History: The Side Deal and the Congressional Testimony that Gave AIG a Free Pass and Goldman $13 Billion in Cash Flow

Did A Side Deal Save All the AIG Counter Parties, Including Goldman Sachs? With all the five-year reminiscing going on about the causes of the financial crisis—there is silence on one critical topic that needs real debate by Congress and the Department of Justice, before the history book is closed. As…

Rewarding Fraudulent Contracts With Bonuses and Rationale for New Financial Crisis Inquiry

Is it Time to Reopen an Inquiry Into the Causes of the 2008 Financial Crisis? Compliments of The New York Times, we share their opinion on the statements of AIG’s CEO Benmosche yesterday: Why It is Necessary to Reopen An Inquiry into the Causes of the 2008 Financial Crisis The…

With Budget Crisis Looming, Here is an Easy $6.5 Billion to Tap to Help Those that Need Food Stamps

The Financial Times reports today (subscription required) “CFTC chair Gary Gensler warns on fund cuts to police derivatives”: “Mr Gensler’s plea for more money is a standard regulator’s lament and one that he personally has made many times over the past two years. But it comes as Congress must approve…

Washington Post Op-Ed – Are Democrats Moving Away From Wall Street?

Here is a most interesting Op-Ed from the Washington Post today, Fed Up With Wall Street, the Democrats Look to the Left.  As writer, Harold Meyerson states:   “The revolt against Summers was less about his positions on today’s economic issues than his adamant opposition to regulating derivatives during his tenure…

Regulatory Capture and the Critical Role of “Poverty Stricken” Consumer Advocates

The Project on Government Oversight (POGO) held a debate on their excellent recent report on the revolving door, “Dangerous Liaisons” at the SEC last week, in New York City.  At this Debate, Susan Antilla, journalist and columnist for Bloomberg, Highlighted Plight of “poverty stricken consumer advocates.” “If you look at the rulemaking information that the…

The Department of Justice and The U.S. Taxpayer v AIG

U.S. taxpayers had forgotten about, or never really understood, (due to the misrepresentative reporting on the fraud perpetuated by AIG) how they were duped. Taxpayers, here is another opportunity to see justice served for all the economic hardships following the 2008 financial crisis.  It is not to “get even” it…

Lessons from 2012 Show Congress a Clear 2013 Road to Sustainable Economic Growth for the Middle Class

Hindsight provides a perfect vision for the future.  Here is our vision for a sustainable economic recovery for 2013 for middle class retirement savings.  Paramount to each of these points is a request for a renewed focus by Congress on the big picture that values society overall, over an obsolete…

Retail FX Has Largest Ponzi Scheme in History: What SIFMA Did a Few Days Later

They have Stained our Interbank Markets The facts are still coming out about the Peregrine fraud.  As evidenced by the Ponzi scheme of Trevor Cook in Minnesota, as the Star Tribune reported on this $194 million Ponzi scheme in the retail FX markets, the Peregrine situation may be far more…