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Article: Senate bill would leave CFTC with scant power to protect market, born warns. (Commodity Futures Trading Commission, derivatives deregulation bill)
- Article from:
- The Bond Buyer
- Article date:
- March 4, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A derivatives deregulation bill being considered by the Senate Agriculture Committee would leave the Commodity Futures Trading Commission with few tools to help prevent a market crisis, the agency's chairwoman warned last week.
"The bill as it now stands would result in a very pervasive deregulation of futures trading both on-exchange and off-exchange in the United States," CFTC chairwoman Brooksley Born told reporters at a briefing last week. "This would be a reversion to 19th-century attitudes toward market protections for the public."
She specifically faulted a provision in the Senate bill that would exempt futures exchange trading from government oversight ...