Roundtable opposes Senate proposal on derivatives trading

05/14/2010 | Washington Post (tiered subscription model), The

The Financial Services Roundtable and other banking-industry entities are striving to ensure that lawmakers understand how a proposal to prohibit derivatives trading at banks would affect the broader markets and economy. "When they're used properly, derivatives are best at managing risk that companies face every day, whether that's interest rates or pork bellies or fuel prices," said Scott Talbott, senior vice president for government affairs at The Financial Services Roundtable. "If you eliminate derivatives, or the ability of companies to put together a derivative for you, then you have increased the risk that businesses face. You have ironically gone in the opposite direction of the bill."

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