Commodity Futures Modernization Act
Commodity Futures Modernization Act of 2000
§ LEGISLATIONfinance· 2000
What It Did
Deregulated over-the-counter derivatives including credit default swaps by exempting them from oversight by the CFTC and SEC. The unregulated derivatives market it enabled grew to tens of trillions of dollars and played a central role in the 2008 financial crisis.
The Vote
House · 292–60 (passage)
D
133 YEA · 48 NAY
R
158 YEA · 12 NAY
Senate · 95–0 (passage)
D
45 YEA · 0 NAY
R
50 YEA · 0 NAY
Key Sponsors
→ Thomas W. Ewing (R-IL) · House
→ Phil Gramm (R-TX) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Corporate Profits After Tax
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Household Debt Service Ratio
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House Price Index
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.