Now That’s *Really* Wrong (News Story)
August 18, 2011
Prof. Craig Pirrong comments on the leak of confidential oil trading data and speculates that it is connected with the CFTC's likely adoption of a position limits: "The disclosures about the positions held by financial players will no doubt help shape the battlefield for that fight."
"I cannot emphasize enough what an abuse this is. And it will hinder the CFTC going forward. The agency often relies on voluntary cooperation by market participants to supply data that helps it understand what is going on in the market, or to help develop policies. Is there any doubt that companies receiving such requests will now think twice about cooperating?"
Cross References: CEA Sec. 8