“WASHINGTON — Federal regulators on Monday said they now had a deeper understanding of one of the strangest market moves in recent Wall Street history.”
“On the other side, supporters of the overhaul of the financial system have taken up the report as evidence that Wall Street overstepped in using one market move to push back against new rules. In recent months, many on Wall Street have said that new regulations have made it hard to carry out trades at dependable prices. ‘That’s the latest scare that the industry is using to attack reform,’ said Dennis M. Kelleher, president of Better Markets, a group that has supported many aspects of the financial system overhaul. ‘They have no evidence for this. Where’s the data?'”
Read the full New York Times article by Peter Eavis here.