Barry, My Liege :
The CFTC has proposed some rules to regulate derivatives in offshore trading.
The rules [seen here : http://in.reuters.com/article/2012/06/30/cftc-cross-border-idINL2E8HTFR620120630] make some sense.
My Liege, here is the question : Do we have the ability to place and enforce sensible rules, or will the bank lobbyists succeed in watering them down ?
It is a big question.
Your faithful servant,