{"id":11502,"date":"2009-08-31T01:20:03","date_gmt":"2009-08-31T09:20:03","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=11502"},"modified":"2009-08-31T01:20:03","modified_gmt":"2009-08-31T09:20:03","slug":"wall-street-stealth-lobby-defends-35-billion-derivatives-haul","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/wall-street-stealth-lobby-defends-35-billion-derivatives-haul.html","title":{"rendered":"Wall Street Stealth Lobby Defends $35 Billion Derivatives Haul"},"content":{"rendered":"<p>Bloomberg &#8211; Wall Street is suiting up for a battle to protect one of its richest fiefdoms, the $592 trillion over-the-counter derivatives market that is facing the biggest overhaul since its creation 30 years ago.<\/p>\n<p>Five U.S. commercial banks, including JPMorgan Chase &amp; Co., Goldman Sachs Group Inc. and Bank of America Corp., are on track to earn more than $35 billion this year trading unregulated derivatives contracts. At stake is how much of that business they and other dealers will be able to keep.<\/p>\n<p>\u201cBusiness models of the larger dealers have such a paucity of opportunities for profit that they have to defend the last great frontier for double-digit, even triple-digit returns,\u201d said Christopher Whalen, managing director of Torrance, California-based Institutional Risk Analytics, which analyzes banks for investors.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=agFM_w6e2i00\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Wall Street is suiting up for a battle to protect one of its richest fiefdoms, the $592 trillion over-the-counter derivatives market that is facing the biggest overhaul since its creation 30 years ago. Five U.S. commercial banks, including [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[15760,398,7568,15761,4464],"class_list":["post-11502","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-christopher-whalen","tag-goldman-sachs","tag-sachs-group-inc","tag-torrance-california","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11502"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11502\/revisions"}],"predecessor-version":[{"id":11504,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11502\/revisions\/11504"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}