{"id":19095,"date":"2014-12-15T10:04:24","date_gmt":"2014-12-15T15:04:24","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=19095"},"modified":"2014-12-15T10:04:24","modified_gmt":"2014-12-15T15:04:24","slug":"did-wall-street-need-to-win-the-derivatives-budget-fight-to-hedge-against-oil-plunge","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2014\/12\/15\/did-wall-street-need-to-win-the-derivatives-budget-fight-to-hedge-against-oil-plunge\/","title":{"rendered":"Did Wall Street Need to Win the Derivatives Budget Fight to Hedge Against Oil Plunge?"},"content":{"rendered":"<p>Today <em>Naked Capitalism<\/em> posted the item <a title=\"Naked Capitalism article\" href=\"http:\/\/www.nakedcapitalism.com\/2014\/12\/did-wall-street-need-to-win-the-derivatives-budget-fight-to-hedge-against-oil-plunge.html?utm_source=feedburner&amp;utm_medium=email&amp;utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29\" target=\"_blank\">Did Wall Street Need to Win the Derivatives Budget Fight to Hedge Against Oil Plunge?<\/a><\/p>\n<blockquote><p>Conventional wisdom among banking experts is that Wall Street&#8217;s successful fight last week to get a pet provision into the must-pass budget bill (or in political junkies&#8217; shorthand, Cromnibus) as more a demonstration of power and a test for gutting Dodd Frank than a fight that mattered to them. But the provision they got in, which was to undo a portion of Dodd Frank that barred them from having taxpayer-backstopped deposits fund derivative positions, may prove to be more important than it seemed as the collateral damage from the 40% fall in oil prices hits investors and intermediaries.<\/p><\/blockquote>\n<p>Three days ago, I posted some comments in the article <a title=\"Previous post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2014\/12\/12\/shutdown-averted-following-late-night-drama\/\" target=\"_blank\">Shutdown averted following late-night drama<\/a>.<\/p>\n<blockquote><p>It would be ironic if within days of the entire government (including President Obama) selling out the country to Wall Street, this whole CLO thing blew up in all our faces.<\/p><\/blockquote>\n<p>Every now and then it is nice to see the experts discover the same idea that I already discovered.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today Naked Capitalism posted the item Did Wall Street Need to Win the Derivatives Budget Fight to Hedge Against Oil Plunge? Conventional wisdom among banking experts is that Wall Street&#8217;s successful fight last week to get a pet provision into the must-pass budget bill (or in political junkies&#8217; shorthand, Cromnibus) as more a demonstration of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-19095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=19095"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19095\/revisions"}],"predecessor-version":[{"id":19096,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/19095\/revisions\/19096"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=19095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=19095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=19095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}