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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201-225 of 16148 signatures
Number Date Name Add a Comment
15948 Sat Feb 16 18:48:03 EST 2013 Phil Mitzkavich
15947 Sat Feb 16 18:26:44 EST 2013 Ed Perry
15946 Sat Feb 16 18:24:14 EST 2013 Timothy MacMurdo
15945 Sat Feb 16 18:09:58 EST 2013 Walter Phillips
15944 Sat Feb 16 18:05:58 EST 2013 C. Emrich
15943 Sat Feb 16 18:02:12 EST 2013 Pat Bereczki Derivatives are to make it too complicated for most Americans understand so Wall Street and Big Banks can rake in the money and not help the public.
15942 Sat Feb 16 17:50:00 EST 2013 Gerald & Holly Phillips Being an investor I am deeply concerned about reckless activities on Wall St.
15941 Sat Feb 16 17:18:32 EST 2013 John Matheson
15940 Sat Feb 16 17:00:03 EST 2013 A. Wolf
15939 Sat Feb 16 16:56:16 EST 2013 Scott Reeves
15938 Sat Feb 16 16:24:47 EST 2013 Gary Overby
15937 Sat Feb 16 16:16:05 EST 2013 Carol Fernandez
15936 Sat Feb 16 16:07:56 EST 2013 Anonymous
15935 Sat Feb 16 16:05:45 EST 2013 Juanita Montano
15934 Sat Feb 16 16:05:14 EST 2013 Katharine Layton
15933 Sat Feb 16 15:36:09 EST 2013 Michael Skidmore
15932 Sat Feb 16 15:11:28 EST 2013 Patrick Stoffel
15931 Sat Feb 16 14:47:54 EST 2013 Phillip McLaurin
15930 Sat Feb 16 14:24:27 EST 2013 Harry Hudson
15929 Sat Feb 16 13:26:37 EST 2013 Allyson Drucker
15928 Sat Feb 16 13:21:37 EST 2013 Michael Field
15927 Sat Feb 16 12:55:51 EST 2013 Peter Bishop
15926 Sat Feb 16 11:46:06 EST 2013 Lisha Doucet
15925 Sat Feb 16 11:45:29 EST 2013 Douglas Jennings
15924 Sat Feb 16 10:20:07 EST 2013 Debbie Bremner
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