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Fed To Examine If Wall Street Is Betting On Default By Greece


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The Federal Reserve, as well as the SEC, are investigating credit default swap positions regarding Greece by various U.S. investment banks, including Goldman Sachs.




PIMCO, as well as a few other market makers, also opposed the formation of a derivatives clearing house.  The reasoning behind it was that it had to be efficient, yet delays by these market makers are preventing transparency in the derivatives market.  It may very well take a huge blowup to get the world to make the hard choices necessary to get these things under control.  Cheers! 

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