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  • March 10, 2010

    Swaps Come Under Fire

    U.S. Regulators, European Leaders Seek More Oversight on Trades in Derivatives

    By Stephen Fidler, Gregory Zuckerman and Brian Baskin

    International momentum is building for stricter oversight of derivatives trading, as a top U.S. regulator recommended new limits on credit-default swaps and European leaders pushed for a ban on speculative bets against government debt following recent financial turmoil in Greece.

    In the U.S., Commodity Futures Trading Commission Chairman Gary Gensler in a speech Tuesday offered his most-specific criticisms yet of credit-default swaps, the insurance-like contracts often blamed for the near-collapse of American International Group Inc. during the financial crisis.

    Read Full Article on Wall Street Journal Online (Subscription required).

    Last Updated: February 25, 2011