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Blowing A Hole In Dodd-Frank

Timothy Geithner

First Posted: 03/18/11 03:15 PM ET Updated: 05/25/11 07:40 PM ET

prospect.org:

Treasury Secretary Timothy Geithner is close to a decision to exempt the $4 trillion-a-day foreign-currency market from key provisions of the Dodd-Frank Act requiring greater transparency in the trading of derivatives. In the horse-trading over the final conference version of that legislation last year, both Geithner and financial-industry executives lobbied extensively to give the Treasury secretary the right to create this loophole. As the practical reach of Dodd-Frank is defined by the executive branch, this will be the first major decision to signal whether regulators will act to strengthen or weaken the reforms.

Read the whole story: prospect.org

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Filed by Mark Hanrahan  |