Geithner’s Final Trick: Bye Bye Dodd-Frank, Volcker Rule
"Late Friday, just before the sleepy Thanksgiving week when most Americans turn their sights to turkey, Geithner finally got around to dressing [down] his own turkey: Dodd-Frank. DF is the financial regulatory monster which will create havoc over the entire financial industry, with new rules and regulations. But not for FOG (Friends of Geithner). With a quiet pen stroke, Geithner exempted $410.8 trillion, or 64%, of the entire OTC derivatives market from impending clamp-downs, which mostly benefits FOG." Continue reading →