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Mar 31, 2011

Top banker and U.S. regulator offer duelling agendas

WASHINGTON (Reuters) – Jamie Dimon and Elizabeth Warren, both power players in U.S. finance, used a high-profile U.S. Chamber of Commerce platform on Wednesday to advance opposing agendas in the debate over regulation reform.

The two did not cross paths at the forum on capital markets in the chamber’s stately Washington headquarters, situated within view of the White House, but their remarks reflected the intensity that still characterizes the issue.

Mar 30, 2011

JPMorgan’s Dimon slams CFTC on swaps crackdown

WASHINGTON (Reuters) – Jamie Dimon, chief executive of Wall Street giant JPMorgan Chase, lashed out at efforts by U.S. regulators to police the $600 trillion swaps market, in which his bank is a big player.

New regulations being implemented by the U.S. Commodity Futures Trading Commission, mandated under 2010′s Dodd-Frank Wall Street reforms, “would damage America,” Dimon said Wednesday at a U.S. Chamber of Commerce event on capital markets.

Mar 30, 2011

Bearing olive branch, Warren braves U.S. Chamber

WASHINGTON, March 30 (Reuters) – Elizabeth Warren went
before some of her sharpest critics on Wednesday to defend the
independent funding of the U.S. financial consumer watchdog
agency she is setting up for the Obama administration.

At a U.S. Chamber of Commerce event attended by scores of
financial industry lobbyists keen to rein in her agency, Warren
said she is a strong supporter of business competition and that
she believes she has that in common with the chamber.

Mar 28, 2011

Big commodity traders mount last stand on U.S. curbs

WASHINGTON (Reuters) – A global push to damp down wild swings in oil and other commodity prices reached a pivotal point on Monday as big traders mounted their last attack on a U.S. plan to limit the role of speculators.

Many of the world’s biggest commodity market participants such as U.S. agribusiness giant Cargill Inc are resisting new rules that would cap how many futures and related swaps contracts any one company can control.

Mar 27, 2011

On financial regulation, it’s Warren vs. Dimon

WASHINGTON (Reuters) – Elizabeth Warren, the Obama administration’s defender of financial consumers, will venture into the corporate lion’s den this week, along with Jamie Dimon, CEO of banking giant JPMorgan Chase & Co.

The two will be speakers at an event set for Wednesday at the U.S. Chamber of Commerce, the country’s largest business lobbying group, in its Corinthian-columned headquarters situated within view of the White House.

Mar 26, 2011

Rich paydays return for big bank CEOs post-crisis

WASHINGTON (Reuters) – It is raining money again on many top U.S. and EU bank executives, less than three years after taxpayers worldwide rescued the banking industry from the worst financial crisis in decades.

Government responses to this vary from country to country. Britain and to a lesser extent the rest of the EU are embracing pay curbs, while the United States is doing little.

Mar 25, 2011

Analysis: Rich paydays return for big bank CEOs post-crisis

WASHINGTON (Reuters) – It is raining money again on many top U.S. and EU bank executives, less than three years after taxpayers worldwide rescued the banking industry from the worst financial crisis in decades.

Government responses to this vary from country to country. Britain and to a lesser extent the rest of the EU are embracing pay curbs, while the United States is doing little.

Mar 23, 2011

World swap market revamp pauses for a breather

WASHINGTON (Reuters) – Not since Gary Gensler pinned on his badge as the $600-trillion (367 trillion pounds) swap market’s new sheriff has his law-and-order campaign seemed so uncertain.

Delays are setting in at the Commodity Futures Trading Commission, which he chairs, and at other U.S. regulators, such as the Securities and Exchange Commission.

Mar 22, 2011

Analysis: World swaps market revamp pauses for a breather

WASHINGTON (Reuters) – Not since Gary Gensler pinned on his badge as the $600-trillion swap market’s new sheriff has his law-and-order campaign seemed so uncertain.

Delays are setting in at the Commodity Futures Trading Commission, which he chairs, and among other U.S. regulators, such as the Securities and Exchange Commission.

Mar 18, 2011

White House vetting Senate aide for CFTC spot: report

WASHINGTON (Reuters) – The White House is considering nominating Mark Wetjen, an aide to Senate Majority Leader Harry Reid, for a top job at the Commodity Futures Trading Commission, The Financial Times reported on Friday.

Democrat Michael Dunn’s term as a CFTC commissioner ends in June. The time is crucial because the CFTC is trying to finalize more than 40 detailed regulations implementing 2010′s Dodd-Frank over-the-counter derivatives reforms.