Scale of 1 to 10: How big a conflict of interest is it that Dodd's wife sits on a derivatives exchange board?

Question

Basically this financial "reform" bill wants derivatives traded thru exchanges instead of in secret. OF COURSE Chris Dodd's wife sits on the board of one the exchanges (CME) that will benefit GREATLY from this legislation. (Is anybody still wondering why Chriss Dodd is content to retire after this??) This is the same Chris Dodd who opposed a FULL audit of the Federal Reserve until the audit was severely gutted and limited to one time only. (Now he supports it....for the PEOPLE.........lol)

To clarify: Having derivatives trading done in a more transparent fashion is probably a good thing.

But, WTF is Chris Dodd writing this bill??? Is the best Democrats can do?? Cuz this is pretty fking pathetic.....

http://latimesblogs.latimes.com/money_co/2010/03/chris-dodds-wife-and-her-strange-entanglement-with-derivatives-trading-.html

In the middle of a blog item about credit default swaps, Felix Salmon of Reuters drops the following nugget about Sen. Chris Dodd and the CME Group, which owns the Chicago Mercantile Exchange and the New York Mercantile Exchange.

"Dodd’s wife, Jackie Clegg, is a director of the CME, which paid her $153,219 in 2009; she also owns shares in the company worth about $235,000. (The CME makes no mention of her husband on its website or in its SEC filings, despite the fact that he’s surely a big part of the reason why she has the position.)"

Why is this notable?

Because Dodd, as the chairman of the Senate Banking Committee, is leading a charge to pass legislation from which the CME Group would likely benefit greatly. The CME Group's two exchanges in New York and Chicago are among the leading exchanges for derivatives in the world. Currently, manyDodd derivatives are traded over the counter – not on any exchange – but the legislation recently introduced by Dodd seeks to change that and put more trades onto exchanges like those owned by the CME Group. This is anticipated to be a boon for the company.

Answer 1

Ixnay on the Democrat Orruptioncay!



Folks are beginning to ask too many questions!

Answer 2

I grew up listening to McCarver while he develop into the Mets annoucer (I had to do something in between Yankee video games). i found him to be very knowledgable while i develop into 10 years-old. He used to tell super memories approximately his taking part in days with the Cardinals, and that i exceptionally enjoyed his memories with regard to the super Bob Gibson. yet, he seems to be have misplaced his component. in all probability because of the fact he's growing to be older, and has been removed from the sport for a jointly as. or possibly I purely liked him greater effectual as a close-by guy. I nevertheless think of he's greater effectual than the ESPN adult males who i discover so plenty greater stressful. I supply him a 6. greenback is particularly of a tweeb. i will in general tolerate him while he sticks to annoucing the sport, yet then he tries to be humorous and unique so often, it purely comes off as stressful. I supply him a 5. i will admit that distinctive the time, i'm not even listening to what the announcers are asserting anymore.

Answer 3

i agree it is outrageous that chris dodd is in control of financial reform, he's horrible. but the transparency and trading through the CME likely would've happened no matter who was at the helm because chicago runs the derivative markets, not new york.

Answer 4

Dodd's been in the pocket of investment bankers for decades. So it's no surprise. It's just surprising that he's a Democrat, not a Republican.

Answer 5

ummm a 12...





btw. some of the libs on here (Little Mike and Jim leap to mind) keep rephrasing the same EXACT question like a dog with a new bone FOR DAYS...

Answer 6

1. You been trolling this all day. There are other markets for derivatives to be listed on.