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To: Real Man who wrote (395725)	10/12/2009 4:43:20 PM
From: carranza2	Read Replies (1) \| Respond to of 436258

thanks. Had a conversation with someone - a playa, though I cannot say in what capacity - over the weekend concerning a market clearing mechanism for derivatives. Got some good insights. It's not just the possibility of marking-to-market that mucks up the works, but also the fact that it is a global market. Also, it appears there is conflict about how the moolah from the market clearing mechanism is going to be split among the players. Also, you want to make markets in these things? You can do well if things go well but on the other hand........

To: Real Man who wrote (395725)	10/15/2009 1:12:46 PM
From: carranza2	Respond to of 436258

Looks like some progress has been made with respect to instituting a mechanism to clear derivatives trades. marketwatch.com One of the problems I relayed to you, the dispute between the big boys concerning the divvying up the moolah from clearing transactions, is solved in Frank's House bill - they don't get to play. Tough noogies. We'll see what the Senate does, and what any joint House/Senate committee does. Still a lot of room and time for the banksters to exert their influence. But this is a good first step. Too bad it took so long, but someone has to tell them "enough!" and Frank to my surprise may have been the one.