If you had, a year ago, asked passersby in the street – or most financial journalists – to name the 10 most influential people in the US financial services industry, it is unlikely they would have mentioned Terry Duffy or Craig Donohue.
Both were already well known leaders in the exchange-traded derivatives industry, as respectively executive chairman and chief executive of CME Group, the world’s largest derivatives exchange.
But the spots in that top 10 not taken by Hank Paulson, Ben Bernanke and Chris Cox would probably have been full of investment bank chief executives, as well as perhaps the heads of Pimco or Calpers and Fannie Mae and Freddie Mac.
The list would be very different today – and Duffy and Donohue would be on a lot more people’s lists.
The bursting asset bubbles that have laid waste almost all parts of the financial system...