One Year Ago In Derivatives Week

The U.S. government announced it would look into regulating the over-the-counter derivatives market. Many on the hill believe the timing was linked to a block that Sens. Bernie Sanders (D-Vt.) and Maria Cantwell (D-Wash.) had placed on the nomination of now-Commodity Futures Trading Commission Chairman Gary Gensler, which was lifted shortly before the announcement. [Gensler was confirmed to the position shortly thereafter and two weeks ago, the U.S. Senate approved a sweeping financial reform bill overhauling the OTC derivatives market (DW 5/21). Cantwell voted against it because she did not believe it went far enough.]