Elite Wall Street group protects banks' derivatives interests

12/13/2010 | New York Times (tiered subscription model), The

Nine executives from major financial institutions such as Goldman Sachs, JPMorgan Chase and Morgan Stanley meet once a month in Midtown Manhattan in an effort to protect the banks' interests in the derivatives market. Their identities and details of their gatherings are kept confidential. The group serves in theory to guard the integrity of the massive derivatives market, but in practice it defends the banks' leadership position, according to The New York Times.

View Full Article in:

New York Times (tiered subscription model), The

Published in Brief: