Don’t Let Wall Street Offshore Its Recklessness

Urge the Commodity Futures Trading Commission to Keep Risky Derivatives Trades in Check, No Matter Where They Occur

Some of Wall Street’s most reckless and risky gambling occurs in the global derivatives market.

The Commodity Futures Trading Commission (CFTC) is readying to crack down on this reckless gambling – but Wall Street lobbyists are demanding loopholes that will make the new regulations virtually meaningless.

CFTC commissioners wrote strong rules to prevent Wall Street from engaging in risky transactions that could jeopardize our country’s financial security, no matter where in the world those transactions happen. But Wall Street – with help from foreign banks and foreign regulators – is pushing for rules that would, in effect, limit the scope of US enforcement to derivatives traders physically based in this country.

This would create a giant loophole that would encourage banks – the biggest of which already have major operations outside of the U.S. – to move transactions offshore to escape regulation.

Urge the CFTC to oppose Wall Street’s recklessness-offshoring loophole.

Petition to the Commodity Futures Trading Commission

 

We, the undersigned, urge you to stand up for rules that apply the transparency and safety requirements of the Dodd-Frank Wall Street reform act to ALL derivatives transactions relevant to U.S. markets, regardless of whether these transactions are routed through a foreign subsidiary or entity.

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1-25 of 16148 signatures
Number Date Name Add a Comment
16148 Sat Feb 01 12:19:14 EST 2014 Anonymous
16147 Sat Nov 02 23:51:04 EDT 2013 Jolene Rutherford Will this criminal behavior never end? Has no one noticed that it amounts to treason - depending on how you look at it?
It's the unscrupulous wealthy of this country that are sucking welfare out of More....
16146 Fri Sep 27 14:42:39 EDT 2013 David Cotner
16145 Mon Sep 09 09:55:52 EDT 2013 Ken Gale American corporations should support American laws, not violate them "legally."
16144 Sat Jul 13 19:05:16 EDT 2013 Carlos Echevarria
16143 Fri Jun 28 22:58:25 EDT 2013 Anthony Hamilton
16142 Thu Jun 20 19:43:27 EDT 2013 Christopher Camera
16141 Wed Jun 05 03:18:32 EDT 2013 Dendrobia Kohl
16140 Fri May 03 15:39:21 EDT 2013 Wendy S Dabney
16139 Sun Apr 28 16:36:31 EDT 2013 Amanda LEWIS
16138 Sat Apr 27 00:50:59 EDT 2013 Terry Arndt
16137 Thu Apr 25 18:53:21 EDT 2013 Terry Floyd
16136 Sun Apr 21 13:45:30 EDT 2013 Dan Aurian-Blajeni
16135 Sat Apr 20 15:17:55 EDT 2013 Michael Hill
16134 Wed Apr 17 21:52:06 EDT 2013 John Sodrel
16133 Sun Apr 07 09:41:16 EDT 2013 Brian Smith
16132 Sat Apr 06 22:49:19 EDT 2013 Janice Foss
16131 Sat Apr 06 16:50:18 EDT 2013 Ardeth L. Weed
16130 Thu Apr 04 20:56:10 EDT 2013 Steven
16129 Tue Apr 02 21:23:00 EDT 2013 Tami Linder
16128 Mon Apr 01 17:30:20 EDT 2013 Michael Hill
16127 Sun Mar 31 14:22:25 EDT 2013 Linda Brebner
16126 Thu Mar 28 16:34:27 EDT 2013 Janis Todd
16125 Tue Mar 26 19:27:09 EDT 2013 Marian Seagren Hall The taxpayers are tired of paying the way for the wealthy.
16124 Tue Mar 26 17:01:17 EDT 2013 Anonymous
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