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Europe Moves To Ban CDS Trading


Parsad
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Europe has moved to restrict trading in credit default swaps.  I believe they are ahead of the curve. 

 

"If derivatives had to be traded on exchanges, you'd have records of how these transactions happened. If hedge funds had to make filings of their holdings, there'd be some record. But if you don't have either one, that's a real challenge," said Bruce Baird, who formerly led the white-collar-crime unit in Manhattan for the Justice Department. "That's a very, very long road" to find evidence of wrongdoing.

 

Cheers!

 

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/09/AR2010030903767.html?hpid=sec-business

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