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Found this little tidbit trying to authenticate the Judge Painter story
http://noir.bloomberg.com/apps/news?...d=aKETglu6ML6M
> The number of people that have come in requesting to be exempt from
> the law, or to have the law delayed has literally shocked me,” said
> Bart Chilton, 50, a Democrat who has served as one the agency’s five
> commissioners since 2007. “A lot of folks are having problems coming
> to grips with the fact that they do have a new law, and will have to
> change their business models.”
Who might be requesting exemptions? Maybe the big banks and traders that filed documents telling the commission earlier this year (before the law was passed) that the commission has zero right to implement position limits?
and in fact there is a list of people who contact CFTC to discuss this (linked in the piece)
> After the Dodd-Frank bill passed, CFTC Chairman Gary Gensler announced
> that the commission would post the names of anyone who came to
> discuss the rules. According to the agency’s website, there were
> more than 230 meetings from July 26 through Oct. 8. Among the firms
> were Cargill Inc., Vitol Group, JPMorgan Chase & Co.,Morgan Stanley,
> and Bloomberg LP, parent company of Bloomberg News, which has a
> swaps trading platform, according to testimony and documents the
> companies have provided to the CFTC.
http://cftc.gov/LawRegulation/DoddFr...ings/index.htm
JPM ... <sarcasm><sarcasm><sarcasm><sarcasm>colour me surprised</sarcasm></sarcasm></sarcasm></sarcasm>
http://noir.bloomberg.com/apps/news?...d=aKETglu6ML6M
> The number of people that have come in requesting to be exempt from
> the law, or to have the law delayed has literally shocked me,” said
> Bart Chilton, 50, a Democrat who has served as one the agency’s five
> commissioners since 2007. “A lot of folks are having problems coming
> to grips with the fact that they do have a new law, and will have to
> change their business models.”
Who might be requesting exemptions? Maybe the big banks and traders that filed documents telling the commission earlier this year (before the law was passed) that the commission has zero right to implement position limits?
and in fact there is a list of people who contact CFTC to discuss this (linked in the piece)
> After the Dodd-Frank bill passed, CFTC Chairman Gary Gensler announced
> that the commission would post the names of anyone who came to
> discuss the rules. According to the agency’s website, there were
> more than 230 meetings from July 26 through Oct. 8. Among the firms
> were Cargill Inc., Vitol Group, JPMorgan Chase & Co.,Morgan Stanley,
> and Bloomberg LP, parent company of Bloomberg News, which has a
> swaps trading platform, according to testimony and documents the
> companies have provided to the CFTC.
http://cftc.gov/LawRegulation/DoddFr...ings/index.htm
JPM ... <sarcasm><sarcasm><sarcasm><sarcasm>colour me surprised</sarcasm></sarcasm></sarcasm></sarcasm>