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Former CTFC commisisioner to head up CTFC's biggest opponent
derryb
Posts: 36,209 ✭✭✭✭✭
Joins OTC derivatives lobbying group that is currently fighting CTFC in court
"The speed of O'Malia's move, and ISDA's high profile, made the appointment striking even by Washington standards, where a 'revolving door' between regulators and those they oversee makes moves from one side to the other common. "This is why Americans are so disgusted with so many high government officials and believe that Washington is in cahoots with Wall Street," said Dennis Kelleher, who heads Better Markets, a group urging tighter regulation of big banks."
CTFC is the regulatory agency tasked with making sure futures prices are not manipulated.
David Stockman said it best: the age of "crony capitalism."
"The speed of O'Malia's move, and ISDA's high profile, made the appointment striking even by Washington standards, where a 'revolving door' between regulators and those they oversee makes moves from one side to the other common. "This is why Americans are so disgusted with so many high government officials and believe that Washington is in cahoots with Wall Street," said Dennis Kelleher, who heads Better Markets, a group urging tighter regulation of big banks."
CTFC is the regulatory agency tasked with making sure futures prices are not manipulated.
David Stockman said it best: the age of "crony capitalism."
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I knew it would happen.