Obama Proposes a First Overhaul of Finance Rules
posted by pchowla | Mon, 18/05/2009 - 13:38In its first detailed effort to overhaul financial regulations, the Obama administration on Wednesday sought new authority over the complex financial instruments, known as derivatives, that were a major cause of the financial crisis and have gone largely unregulated for decades.
Derivatives sector answers critics
posted by fincrisis | Wed, 08/04/2009 - 14:33The financial industry will on Wednesday overhaul how it writes contracts in the credit derivatives world – an effort to rebuff criticism that the vast sector could pose a systemic threat. More than 1,400 banks and asset managers will adopt a new “big bang” protocol, which will make it easier for investors to know what will happen to credit derivatives contracts if debt defaults occur.