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  • bluecheese4u bluecheese4u Sep 16, 2013 2:16 AM Flag

    Report: Regulators eye Wall Street's role in ethanol credits

     

    Report: Regulators eye Wall Street's role in ethanol credits

    Ben Geman - 09/15/13 09:14 AM ET

    The federal Commodity Futures Trading Commission may expand its look into the role of big Wall Street players in the market for ethanol credits, which soared in price this year, according to a published report.

    “Scott Mixon, the acting chief economist of the Commodity Futures Trading Commission, said in an interview Friday that the issue of banks’ involvement in this market was something the agency was tracking and might look into more deeply because of the ethanol component,” The New York Times reports.

    That tidbit is just one part of the Times in-depth, 3,200-word story about the market for ethanol credits, a tool the federal government created to help refiners comply with biofuel blending mandates.

    “The market in ethanol credits is exactly the kind Wall Street loves: opaque, lightly regulated and potentially very lucrative,” the story states.

    The market has grown and attracted interest from big bank like Morgan Stanley, JPMorgan Chase and Barclays, the Times reports. Check out the whole story here.

    thehill

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