3Red Trading Engaged in Whistle-blower Retaliation

After widespread spoofing was uncovered by an employee at 3 Red Trading, the Chief Executive Officer engaged in cutthroat whistleblower retaliation. That is the allegation made in a recently discovered Motion to Dismiss in lawsuit…

Expert Puts Blockchain Into Perspective

A leading expert on crypto-currency said we should all temper our expectation for the transformative power of blockchain. “Why is Blockchain not the solution to all the world's problems? It's not magic, would be the…

CME Disciplinary Action Raises Eyebrows

A recent CME disciplinary citation is noteworthy for what was missing and raises the specter that the exchange is playing favorites. On December 21, 2017, the CME Group issued a disciplinary action against a trader,…

FHFA Mandates More CRTs in 2018

The regulator making most of the decisions for the two Government Sponsored Entities (GSE) released its outlook for 2018, and the credit risk transfer program will play a critical role. The Federal Housing Finance Authority…

US Department of Justice

Indictment in Enron-Like Accounting Fraud Case

Another indictment was handed down in a burgeoning accounting fraud which harkens back to Enron. Edward DiMaria is the former Chief Financial Officer at Bankrate Inc. He is charged “in an indictment unsealed today for…

Currency Hyper-Deflation Is Not Necessarily Good

The whole bitcoin craze may be happening based on the faulty assumption that currency hyper-deflation is any better than currency hyper-inflation. A historic primer: Immediately after World War 1 and continuing into the mid-1920s, the…

CBO Gives Thumbs Up to CRT Markets

The Congressional Budget Office (CBO) gave a thumbs up to the mortgage Credit Risk Transfer market. The primary function of the CBO is to “score bills”, a process by which the office predicts the effect…

Bitcoin is a Fad, and That’s a Problem

Crypto-currencies are all the rage and that’s a problem. The Fad Problem In August, The Industry Spread warned, “If it’s a fad, it’s a problem,” when analyzing whether or not crypto-currency was in a bubble.…

Fiduciary Rule Repeal Bill Scored by CBO

The Congressional Budget Office (CBO) has scored a bill which would repeal the controversial fiduciary rule. The Protecting Advice for Small Savers (PASS) Act received its CBO scoring, and the CBO believes it will have…

CFTC Staffers Explain How New Bitcoin Product Was…

In the latest Commodities Futures Trading Commission podcast, several CFTC staffers discussed how the CME and CBOE Futures Exchange (CFE) bitcoin futures got approved. [caption id="attachment_185786" align="alignleft" width="127"] Andrew Busch, Chief Market Intelligence Officer for…