Big Win For CFTC Over Big Bank Lobby In Court

Score one for the underdog, as the Commodity Futures Trading Commission (CFTC) notched a big win against the big bank derivatives lobby in court Tuesday.

Judge Paul Friedman rules in favor of CFTC

Judge Paul Friedman of the U.S. District Court for the District of Columbia ruled in favor of the CFTC and its plans to regulate overseas Swaps transactions, The Wall Street Journal is reporting.

Three powerhouse lobby groups -- Securities Industry and Financial Markets Association (SIFMA), the International Swaps and Derivatives Association (ISDA) and the Institute of International Bankers –...