CFTC’s O’Malia Cashes In, Heads To SWAPs Lobbyist

CFTC Commissioner Scott O'Malia was known to battle against SWAP regulations inside the CFTC, now he will get paid handsomely to do the same for the industry’s top lobby group.

ISDA announces O’Malia will join the firm

The International Swaps and Derivatives Association (ISDA) announced that O’Malia will join the firm on August 18.  ISDA has sued the CFTC to block its regulations and attempts to reign in the worldwide SWAPs industry.  At $700 trillion in notional value, the SWAPs derivatives, primarily held by large banks and financial institutions, could wipe out the world economy nearly ten times over.

O’Malia is said to be in line for a major payday....