Another 180!!!
Caution: Flip-Flop Alarm Is Ringing
KARL DENNINGER BLOG
Has President Obama issued an actual directive to Geithner?
May 13 (Bloomberg) -- The U.S. Treasury will tell banks to increase transparency in the over-the-counter derivatives market by making prices available on centralized computer platforms, according to people familiar with the plan.
Treasury Secretary Timothy Geithner may announce the decision as soon as today, said the people, who declined to be identified because they weren’t authorized to speak publicly. Geithner laid out a framework in March for increasing regulation of financial markets as the worst credit crisis since the Great Depression caused more than $1.4 trillion in writedowns by banks and financial companies worldwide.
That would be a dramatic change from Geithner's and Treasury's position (going back to Paulson) - in fact, its an outright flip-flop.
Continues with links: http://market-ticker.denninger.net/a...s-Ringing.html