Saturday, August 6, 2011

Swap Saturday

Canceled?

"New rules on swaps may be delayed for sake of clarity" by Silla Brush, Bloomberg News / June 15, 2011

WASHINGTON — Rules scheduled to take effect in mid-July for the $601 trillion swaps market would be delayed until as late as the end of the year under a proposal by the Commodity Futures Trading Commission.

The agency’s commissioners voted 5 to 0 yesterday to propose “temporary relief’’ from some requirements set to be in place on July 16, a year from the enactment of the Dodd-Frank Act....  

That damn law didn't change a thing -- but you were meant to believe it did!

--more--"
 
I don't want to trade anymore.