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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: lorne who wrote (48757)	2/10/2000 2:02:00 PM
From: Alex	Read Replies (1) of 116764

Greenspan Eyes Derivative Exemption You mean like they way they don't regulate hedge funds? <<...Greenspan, testifying before the Senate Agriculture Committee, asked lawmakers to adopt the recommendations of a White House task force, which included exempting over-the-counter derivatives from government regulation and allowing the financial institutions using them to police the market themselves. Joining Greenspan in his request were Treasury Secretary Lawrence Summers and William Rainer, chairman of the Commodity Futures Trading Commission. Like Greenspan, they are members of the President's Working Group on Financial Markets, which was established after the October 1987 stock market crash. ``I see a real risk that, if we fail to rationalize our regulation of centralized trading mechanisms for financial instruments, these markets and the related profits and employment opportunities will be lost to foreign jurisdictions that maintain the confidence of global investors without imposing so many regulatory constraints,' Greenspan said....>> dailynews.yahoo.com

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