Quick, which regulatory agency are Wall Street’s biggest banks most worried about right now?
If you answered that it must be the Securities and Exchange Commission, your response, while logical, is inaccurate. You’d also be wrong if you answered the Commodity Futures Trading Commission, the SEC’s sister organization policing the market for futures, options and most kinds of commodities trading, although you would be slightly warmer. The correct answer is a body best known for overseeing the construction of new pipelines and regulating rates of return at utilities: the Federal Energy Regulatory Commission, or FERC.
Read Full Article »