Clearinghouse Needed to Regulate CDS: Experts

Law360, New York (October 13, 2008, 12:00 AM EDT) -- The lack of transparency in the $60 trillion unregulated credit default swap market that is partly to blame for the U.S.' financial crisis could be improved by creating a central clearing counterparty for the transactions, witnesses testified before the U.S. Senate Tuesday.

The Senate Committee on Agriculture, Nutrition and Forestry held a hearing on the topic of financial derivatives because it has jurisdiction over commodities and futures contracts and is trying to determine whether the U.S. Commodity Futures Trading Commission should play a role in regulating...
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