Regulatory wrangles in the CDS market
Regulatory wrangles
In the wake of the Lehman Brothers collapse in September 2008, and the subsequent bailout of US insurer AIG, credit derivatives attracted the ire of policymakers. Credit default swaps were blamed for the build-up in systemic risk that contributed to the financial crisis. Warren Buffett’s famous description of derivatives as “financial weapons of mass destruction” gained common currency.
A financial reform package – the Dodd-Frank Wall Street Reform and Consumer Protection Act – was announced by
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