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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51-75 of 16148 signatures
Number Date Name Add a Comment
16098 Mon Mar 04 00:59:05 EST 2013 carl tyndall
16097 Sun Mar 03 20:50:11 EST 2013 Janet Strange
16096 Sun Mar 03 18:33:55 EST 2013 Rabecca Gainey
16095 Sun Mar 03 10:13:30 EST 2013 Stephanie Lukas
16094 Sat Mar 02 21:50:45 EST 2013 Scott Ikeda
16093 Sat Mar 02 14:24:10 EST 2013 Jason Moore
16092 Sat Mar 02 11:36:27 EST 2013 Mary Joyce Moeller
16091 Fri Mar 01 23:23:30 EST 2013 Debra Poortenga
16090 Fri Mar 01 18:49:16 EST 2013 Polly O'Malley
16089 Fri Mar 01 08:18:54 EST 2013 Cheryl Defigio Please remember that your duty is to protect the common good and not the special interests.
16088 Fri Mar 01 01:17:03 EST 2013 Danny Dyche
16087 Thu Feb 28 20:16:12 EST 2013 Georgeanne Samuelson
16086 Thu Feb 28 18:50:15 EST 2013 Lloyd Roos
16085 Thu Feb 28 09:09:37 EST 2013 Kristin Knudsen
16084 Wed Feb 27 20:59:32 EST 2013 John McKee
16083 Wed Feb 27 19:18:35 EST 2013 Kirk Butler
16082 Wed Feb 27 09:16:37 EST 2013 Emma Spurgin Hussey
16081 Tue Feb 26 19:57:07 EST 2013 Emman Fabiyi
16080 Tue Feb 26 17:15:13 EST 2013 Janet Brodeur
16079 Tue Feb 26 14:58:34 EST 2013 Mabel Leon
16078 Tue Feb 26 14:32:19 EST 2013 Nancy Brigham
16077 Tue Feb 26 14:14:20 EST 2013 Hal Trufan
16076 Tue Feb 26 12:42:23 EST 2013 Logan Smith
16075 Tue Feb 26 12:24:32 EST 2013 Hal Trufan
16074 Tue Feb 26 10:57:46 EST 2013 Denise Flynn-Webb
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