An interesting article from the NY Times
Regulator to Detail Plan for Derivatives
WASHINGTON — The new chairman of the Commodity Futures Trading Commission will ask Congress on Thursday to impose substantial new costs and restrictions on large banks and other financial institutions that deal in the complex and largely unregulated financial instruments known as derivatives.
Gary G. Gensler, the top regulator for futures trading, will provide significant new details of a plan announced three weeks ago by the Treasury secretary, Timothy F. Geithner. Mr. Gensler will disclose his proposal before the Senate Agriculture Committee, which oversees the commission.
