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

THIS WEEK'S LEAD STORIES

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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

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