Top of the morning
In case you are wondering why folks are protesting against the folks on Wall Street and the cozy relationship they have with people in Congress who are supposed to be representing us, check out Gretchen Morgenson’s column in the Sunday New York Times. The first few lines sum it up.
Wall Street loves to do business in the shadows. Sunshine, after all, is bad for profits. So it is perhaps unsurprising that players in the derivatives market want to thwart one of the worthier aims of the Dodd-Frank financial regulation: to bring transparency to the huge market for instruments known as swaps. Now some in Congress, on both sides of the aisle, are trying to block that goal, too.