FREEDOM FORUM: Add a Comment

Article Image News Link • Global

Bloomberg

Markit Group Ltd., the data provider majority-owned by Wall Street’s largest banks, is under Justice Department scrutiny for potential anticompetitive practices ranging from requiring customers to buy bundled services to restricting which trades can be cleared in the $26 trillion credit-default swap market. The Justice Department said July 15 it was investigating users of credit-default swaps as U.S. lawmakers seek to regulate the $592 trillion over-the-counter derivatives market, which helped worsen the biggest financial calamity since the Great Depression. Trading in OTC contracts provides as much as 40 percent of profits for Goldman Sachs Group Inc. and Morgan Stanley, according to research firm CreditSights Inc. “Markit has been informed of an investigation by the Department of Justice into the credit-derivatives and related markets,” spokeswoman Teresa Chick said July 13 in an e-mailed statement in response to questions from Bloomberg News. Chick declined to comment last wee

Reported By

Max 1000 chars
Tag as "Crude or Lewd"

You are free to comment on this discussion in any way you feel is appropriate. If you choose to use to use any language which our editors feel is vulgar -- by their standards -- your comment may be tagged "Crude or Lewd" and may be filtered out of the discussion by those who prefer not to read that sort of thing. If you know you have entered something which will cause your comment to be tagged, we ask that you tag it yourself to save us the time. We do encourage everyone to be civil and not make rude attacks on other people in the Forum. We don't censor out those remarks, but few people enjoy reading them and we would like participation in our Forums to be a pleasant experience for everyone. And, by concentrating on what is said instead of who is saying it, even those who may disagree with you will be more likely to consider your opinions valid.

Thank you for your cooperation!