Article from The Baseline Scenario
Posted: 14 Feb 2011 10:49 AM PST
By Simon Johnson
On behalf of key financial sector players, Keybridge Research has just published a report that claims the Dodd-Frank reforms for over the counter derivatives market “could cost 130,000? jobs. My MIT colleague, John Parsons, deftly takes this apart on his blog today – pointing out that the technical basis of this report is very weak (or nonexistent).
John is an expert on these issues and spends a great of time with nonfinancial companies that use derivatives in a sensible and responsible manner. His critique should carry weight – including with the relevant congressional hearings scheduled for this week.
But I would go further.