“The Obama administration moved on Wednesday to exert more control over the shadowy over-the-counter derivatives market, now closely linked to the global credit crisis. Federal regulators proposed subjecting all over-the-counter derivatives dealers — whose trades are not made through an exchange, making them hard to monitor — to ‘a robust regime of prudential supervision and regulation,’ including conservative capital, reporting and margin requirements.” (Washington Post, Thursday)
Predictable … and wrong.
FEE Timely Classic
“Too Big to Succeed” by Less Antman
