[expat_panama]

what gets called ‘the repeal of G-S’ was largely the result of the Commodities Futures Modernization Act 2000, signed by Clinton, that kept derivatives completely unregulated.

You can't possibly be saying that buying and selling of every single financial security derivative contract in the U.S. since 2000 happened completely w/o any government oversight at all.  Like, I looked in the html text and the PDF and I didn't get that at all.

[Toddsterpatriot]

I think he means OTC derivatives. Exchange traded derivatives, options and futures, are heavily regulated.

[Pelham]

I’ll have to see what I can dig up. Apparently CFMA kept Credit Default Swaps unregulated and that played a role in the meltdown. Most of what I recall concerning unregulated derivatives trading centered around Brooksley Born during Clinton.

Here’s a NYT article that touches on some CFMA background although most of it involves Enron.

http://www.nytimes.com/2008/11/17/business/17grammside.html