Bad News Feds: Draft GAO Report Calls For Legislation On Treasury Price Distribution

THIS WEEK'S LEAD STORIES

Confirming industry speculation that federal intervention was just around the corner, the General Accounting Office (GAO) has recommended in a draft of its long-awaited U.S. government securities report that "legislation is needed" to insure that real-time Treasuries pricing information is available "to those willing to pay appropriate fees."

In a copy of the draft report obtained by IMD, the GAO goes on to say that interdealer brokers should not be permitted to do business unless real-time t

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