monk

Coming Soon: A Central Clearing House for Credit Derivatives

Thanks for the update! It would have been nice to wake up and have the BSC ordeal turn out to be bad dream! It's clear the FED wants to wake up without nightmares that cost the U.S. taxpayer.

The recent testimony of many industry participants on the "Hill" = coupled with the FED's mandate that all OTC transactions be totally transparent = Leaves only ONE viable solution. It's self evident that the CME is the only organization with the size and talent to transform an antiquated OTC market into a reliable and quantifiable marketplace:

To sum it up:

CME plays Transparency
Investment Banks play Hide and Seek

CME has clearing for OTC with pricing and daily position netting ready to "Plug and Play"
Investment Banks are unable to balance the books

CME has a strong capital position
Investment Banks are passing around the hat

CME has proven management that lives and breathes the business
Investment Banks have a revolving door, hired hand policy

CME, one of few financials that can and thus is being shorted - Wonder Who?
Investment Banks apply Voodoo Naked Monkey Motion to keep shares up

THE SELLING PRESSURE ON EXCHANGE STOCKS IS AN UNWARRANTED SINISTER ATTEMPT TO MAINTAIN A DESTRUCTIVE "STATUS QUO".

LETTING THE EXCHANGES SET UP AN OTC MARKET THAT IS UNPROVEN AND EXTREMELY IMPORTANT IS LIKE LETTING A FOX GUARD THE HEN HOUSE.