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bemildred

(90,061 posts)
Tue Mar 26, 2013, 11:17 AM Mar 2013

Europe Expands Investigation Into Derivatives Market

Source: NYT

BRUSSELS — European Union antitrust regulators have expanded their investigation into whether a small network of big banks unfairly controls the derivatives market.

The inquiry, which has already ensnared major international giants like Barclays, JPMorgan Chase and Deutsche Bank, has been broadened to include the International Swaps and Derivatives Association, a trade organization for market participants.

The European Commission, which oversees antitrust regulation, had “found preliminary indications that I.S.D.A. may have been involved in a coordinated effort of investment banks to delay or prevent exchanges from entering the credit derivatives business,” European antitrust regulators said in a statement. “Such behavior, if established, would stifle competition in the internal market in breach of E.U. antitrust rules.”

Read more: http://dealbook.nytimes.com/2013/03/26/europe-expands-investigation-into-derivatives-market/

8 replies = new reply since forum marked as read
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Europe Expands Investigation Into Derivatives Market (Original Post) bemildred Mar 2013 OP
About time too. dipsydoodle Mar 2013 #1
What will they find that Americans refuse to see? AllyCat Mar 2013 #2
I assume all investigations into U.S. involvement will stop at the Atlantic wall. nt Javaman Mar 2013 #3
We dogmatically object to the very idea of anti-trust enforcement. bemildred Mar 2013 #4
Derivatives need to be shut down Kelvin Mace Mar 2013 #5
"A dumb idea, badly carried out", that's how I think of them. nt bemildred Mar 2013 #7
Wow JustAnotherGen Mar 2013 #6
Wow, bankers acting badly, lark Mar 2013 #8

AllyCat

(16,187 posts)
2. What will they find that Americans refuse to see?
Tue Mar 26, 2013, 11:37 AM
Mar 2013

Hope this comes to something for everyone in the world scammed by this cartel. Alas, our Congress and courts will probably give extra protections to the banks so they can continue to do it.

bemildred

(90,061 posts)
4. We dogmatically object to the very idea of anti-trust enforcement.
Tue Mar 26, 2013, 11:47 AM
Mar 2013

We love monopolies, or oligopolies if that's the best we can manage. Bigger businesses means bigger campaign contributions.

 

Kelvin Mace

(17,469 posts)
5. Derivatives need to be shut down
Tue Mar 26, 2013, 12:17 PM
Mar 2013

They are too complicated, highly speculative, unregulated, and can destabilize the world economy in minutes.

lark

(23,099 posts)
8. Wow, bankers acting badly,
Tue Mar 26, 2013, 12:23 PM
Mar 2013

committing fraud to line their pockets, who would have ever thought this possible! They're, gasp, job creators for God's sakes (per the Repugs).


Edited to add smilie.

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