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"Last year, the Global Financial Markets Association, a lobby group for banks, commissioned a study on whether trading houses are “too-big-to-fail.” Hoping it m
by cbr 13y ago
"Last year, the Global Financial Markets Association, a lobby group for banks, commissioned a study on whether trading houses are “too-big-to-fail.” Hoping it might convince officials to regulate these companies like banks, GFMA abandoned the study after Pirrong, its author, reached a different conclusion."
- GFischer 13y agoSeems like Pirrong was intellectually honest :) I looked up some links on his study: http://www.bloomberg.com/news/2013-05-15/commodity-trader- http://www.bloomberg.com/news/2013-05-15/commodity-trader- failure-seen-as-limited-economic-risk-in-study.html http://www.cato.org/publications/policy-analysis/inefficiency-clearing-mandates http://www.cato.org/publications/policy-analysis/inefficienc...