| From Business Week: The government's top securities regulator on Wednesday pressed Congress anew to quickly rein in the market for credit default swaps, complex investments partly blamed for the widening financial crisis.
The roughly $60 trillion market for credit default swaps lacks transparency, is unregulated and creates an environment for market manipulation, Securities and Exchange Commission Chairman Christopher Cox said. The market's size exceeds the gross domestic product of every country in the world combined, he noted..... Full Article: Source
|