Geithner warns on looser European regulation

The Financial Times reports:

US Treasury Secretary Tim Geithner on Friday expressed concern that any move by Europe to allow looser rules on derivatives trading could prompt a shift overseas by traders eager to evade a US clampdown.

The Obama administration is proposing to force greater transparency in the often opaque world of derivatives trading by forcing more of the financial instruments to be traded via standardised contracts and through central clearing houses.

You'll want to read this one, it appears Barney Frank is making threats to countries that provide a better deal.