Because they've done so well in the past when they've self regulated. I don't blame them for trying though I would blame Obama for changing for them. Heck, even listening to them would be a mistake. Reuters:
A group of banks and money managers plan to release a letter to the Federal Reserve Bank of New York and other U.S. and overseas regulators to help fend off some rules proposed by the Obama administration that seek to control trading in the derivatives market, the Wall Street Journal reported.
The letter, which is expected to be released next week, will reiterate a commitment by the banks to meet the government's goal of transparency, the paper said, citing people familiar with the matter.
