Thread: Code of Federal Regulation

Originally Posted by Show-me

Who can or how can a change be made to the Code of Federal Regulation?

The Code of Federal Regulations (CFR) is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. It is divided into 50 titles that represent broad areas subject to Federal regulation. Each volume of the CFR is updated once each calendar year and is issued on a quarterly basis.
Found Here >http://www.gpoaccess.gov/cfr/about.html
CFR on TSP found here>http://www.access.gpo.gov/cgi-bin/cf...i?title=200705

One more, recent changes in Federal Registers related to TSP >
http://tinyurl.com/28a467

Here is the total Federal Register of Proposed Regulations, 9/10/07 titled,
fr10se07N Proposed Exemptions; D-11318, Barclays Global Investors, NA
http://tinyurl.com/2rfbrj

The CFR is due for updating 1/08
http://www.access.gpo.gov/nara/cfr/c...rch.html#page1 - see Title 5

Wow.

I think I understand what is says.

And if it says what I think it says (that tinyurl), that would explain a lot.

Wow.


How in the HECK did you find that , Ms. Piggy???

Great find.

Originally Posted by James48843

Wow.
I think I understand what is says.
And if it says what I think it says (that tinyurl), that would explain a lot.
Wow.
How in the HECK did you find that , Ms. Piggy???
Great find.

What are you talking about! How the hell could you understand that proposal?
People you have a genius working for you! Take a look of what he understands >
http://tinyurl.com/2rfbrj
or (link suddenly doesn't work for me) >
http://frwebgate6.access.gpo.gov/cgi...ction=retrieve

Originally Posted by Miss Piggy

What are you talking about! How the hell could you understand that proposal?
People you have a genius working for you! Take a look of what he understands >
http://tinyurl.com/2rfbrj

It says- if I am reading it right, that Barclays got an exemption from the department of Labor back in August to use slush fund money of the TSP shareholders, and write covered calls with it.


Think about this: When they trade stocks, it actually takes three days under SEC rules to execute the payment after the trade.

For those three days, the money is tied up. In limbo. Can't be touched. At least, under the way all other funds work, it can't be touched.

But Barclays went out, and asked, back in August, for a waiver to that rule. They wanted to be able to use that money to write a "covered call". Basically, in theory, it would mean that the money could be gambled by the Barclays guys for those three days, and then Barclays would pay out the money they owed on the third day, and benefit from any money, that the "covered calls" could produce in that three day period.

It would essentially create a "slush fund" that Barclays could use.

The stated purpose, of course, would be to "reduce risk", i.e. hedge your bet in the direction opposite the way the market was going, and pick up a few bucks.

The problem is if you guess wrong, you loose up to all your money.


If that is what this federal register notice says, and I think it's what it says, then THAT would explain why now, when the market swings widly, Barclays could have bet wrong, and the money got swallowed up. So they tell the Thrift Board that it's those pesky day-traders who done it, and they fool everyone and walk away with the slush fund.

If THAT is what I am reading in this tinyURL, then they just got an exemption to the regular rules, and we are all hosed. Once again.

I COULD be wrong, but that is what I think I see written in here.

Here is some more information about what a covered call is:

http://en.wikipedia.org/wiki/Covered_call


P.S. I'm just a worker bee.

I instinctively knew they were messing with our $ with all of these wild FV's. Time for a new tsp funds broker. Why should we finance them? Along with a new broker we should ask for all the benefits that come with it.

This sounds like something big. We need a financial advocate to work for/with us on understanding this. Any ideas? Are there free advisor's out there, like retiree's that do this? There has to be a organization out there that can interpret this for us.

Words that come to mind are casino, gambling, crap shoot, jumping in and out excessively, day trading, etc. Only it is NOT THEIR MONEY!!!

I couldn't get either of the links to work, but was able to find the document and saved it in word. If you want a copy, I'll send it to you, just let me know your e-mail.

Thanks Sunnyskies. I just realized it's the search feature at gpo.access that stops working after a short period of time. I hate posting links that don't work but I'll give it one more try. These two links should work on a regular basis and might save you some work. Thanks again Sunnyskies.

A List of all the 2007 Federal Registers downloadable in pdf format.
http://www.access.gpo.gov/su_docs/fedreg/frcont07.html

The Proposal - Sept 10, 2007 issue. Go to Employee Benefits Security Administration, Barclays Global Investors, N.A.,
http://www.access.gpo.gov/su_docs/fedreg/a070910c.html