More

Jeffrey Goldstein, Treasury Nominee: Currency Swaps Should Stay Off Exchanges

Derivatives

First Posted: 05/02/10 06:12 AM ET Updated: 05/25/11 04:40 PM ET

Inspiring
 Greedy
 Typical
 Scary
 Outrageous
 Amazing
 Innovative
 Infuriating

WASHINGTON, March 2 (Reuters) - The nominee for the U.S. Treasury's top domestic post on Tuesday said he believed certain derivatives contracts, such as dollar swaps, could be exempted from being traded on exchanges under Obama administration proposals to boost market transparency.

Read the whole story: Reuters

FOLLOW HUFFPOST BUSINESS
Subscribe to the HuffPost Money newsletter!
WASHINGTON, March 2 (Reuters) - The nominee for the U.S. Treasury's top domestic post on Tuesday said he believed certain derivatives contracts, such as dollar swaps, could be exempted from being trad...
WASHINGTON, March 2 (Reuters) - The nominee for the U.S. Treasury's top domestic post on Tuesday said he believed certain derivatives contracts, such as dollar swaps, could be exempted from being trad...
Related News On Huffington Post:
 

Read more from Huffington Post bloggers:
Arianna Huffington

Arianna Huffington: Reform Deja Vu: Democrats Follow Failed Health Care Strategy and Preemptively Surrender on Consumer Financial Protection Agency [Updated]

Senate Democrats, in the hope of attracting Republican votes, appear to have surrendered on the Consumer Financial Protection Agency. They've mastered the art of negotiating against themselves. READ MORE Political Oscars 2010 It's time again for our annual mash-up of this year's noteworthy achievements in the worlds of politics and entertainment. READ MORE Want to Come to the Taping of Our New Sitcom? WATCH: Arianna Discusses Move Your Money on CBS Sunday Morning WATCH: Arianna Discusses Weakened Financial Reform Legislation on CNN WATCH: Arianna Talks Too Big To Fail, Undercover Boss, and "Air Traffic Control Boy" on Real Time With Bill Maher
Warren Mosler

Warren Mosler: Fixing the Economy in 90 Days -- Why I Am Looking at Running for Dodd's Senate Seat

Until our politicians understand the difference between State finances and Federal finances, they will continue to fail to make sure our take-home pay is high enough to sustain output, employment and prosperity.

Filed by Ryan McCarthy  | 

More in Business...


 
 
  • Comments
  • 15
  • Pending Comments
  • 0
  • View FAQ
Comments are closed for this entry
View All
Recency  | 
Popularity
4600 dollars and 2 cents
4 Fans
08:21 PM on 03/03/2010
Goldstein, you should stay out of any position where you have ANY influence over whether swaps remain obscured.
Permalink  |
photo
HUFFPOST SUPER USER
jcaunter
Profile: schizoid, INTJ, IQ145
596 Fans
01:46 AM on 03/03/2010
Great, Obama has nominated another corporate Wall Street shill. A Wall Street shill nominated a Wall Street shill. What's there to be surprised about?
Permalink  |
4600 dollars and 2 cents
4 Fans
09:35 PM on 03/03/2010
Nothing. Obama
Permalink  |
4600 dollars and 2 cents
4 Fans
09:35 PM on 03/03/2010
is a
Permalink  |
Ospree19
12 Fans
11:51 PM on 03/02/2010
Goldstein
Permalink  |
Ospree19
12 Fans
01:59 AM on 03/03/2010
Goldstein Sachs Part II.
Permalink  |
HUFFPOST COMMUNITY MODERATOR
indc
392 Fans
05:42 PM on 03/02/2010
Senators also questioned Goldstein about the work one of his previous employers -- private equity firm Hellman & Friedman -- did to set up tax-shelter "blocker" corporations in the Cayman Islands on be half of clients.

Goldstein said these entities were set up to aid tax-exempt organizations such as pension funds and universities to maintain their income as tax exempt.

Asked by Finance Committee Chairman Max Baucus whether such corporations reduced income to the U.S. Treasury, Goldstein replied, "I'm no tax expert, Senator, but it's my understanding that these blockers are used almost exclusively if not totally for the purpose of tax-exempt entities in the United States."

Obama keeps on giving
Permalink  |
Matt12
372 Fans
05:03 PM on 03/02/2010
Are you kidding with this guy? So, another bird of a feather for Treasury. It's almost like drafting Somali pirates, we know what to expect and whose interests they would protect. Who trusts these people? One would think that these guys have done enough. Is the White House so bereft of talent?
Permalink  |
4600 dollars and 2 cents
4 Fans
08:32 PM on 03/03/2010
no, bereft of morals
Permalink  |
magibrotherhood
237 Fans
03:55 PM on 03/02/2010
Cayman Islands, eh ?.....LOL
Permalink  |
magibrotherhood
237 Fans
03:53 PM on 03/02/2010
Is this dude a goldman-sachs alumnus ?
Permalink  |
4600 dollars and 2 cents
4 Fans
08:32 PM on 03/03/2010
does the pope wear a funny hat?
Permalink  |
photo
HUFFPOST SUPER USER
FogBelter
Illegitimis non carborundum
2615 Fans
 
03:49 PM on 03/02/2010
Transparency in Financial Markets is the only way to combat fraud. Any argument against transparency should be viewed as suspect.
Permalink  |
This user has chosen to opt out of the Badges program
photo
OneTop
Uh, is that a beer hall?
1824 Fans
05:48 PM on 03/02/2010
You are absolutely correct.

Without that visibility they don't even need a mask and a gun
Permalink  |