Crude oil goes into a downside breakout after the International Monetary Fund raised concerns about frothy stock markets and weaker economic growth causing a reaction with stimulus moves by Russia and Norway.
The U.S. Supreme Court debated the reach of the federal securities laws, questioning whether investors can sue law firms and outside companies for their alleged roles in R. Allen Stanford’s $7 billion Ponzi scheme.
In both the securities and derivatives worlds, new rivals have emerged to offer comparable services for similar transactions. Here we question whether exchange mergers can stem the gains made by those alternatives.
Originally published in our 2007 "Agents of Change" special issue, this piece chronicles Philip McBride Johnson's involvement in the regulatory structure of the futures industry and his role in bringing financial instruments to the futures markets.