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Regulating derivatives

I attended the House Committee on Financial Services Capital Markets Subcommittee hearing today… the topic was the oversight of derivatives… lots of discussion about the failure of AIG and what happened there too…

It is more clear to me than before that legislators need systems to share information to effectively  legislate regulation for financial markets … yes tools like Riski… especially like Riski

Derivatives are an especially complex area because there is minimal standardization in the nomenclature, trading practices, counterparty relationships, clearing practices and current oversight…

There are many types of derivatives… and some like interest rate swaps are pretty simple and have liquid markets… for many of the Congressmen on the Subcommittee having access to basic concepts about the markets, their size and the levels of concentration, collateral and margining would be good… they could more effectively legislate if some light was shed on product types and purposes…

Chairman Kanjorski asked the men testifying to pledge to help untangle this issue… and they agreed which is very good…  with Riski many experts in the derivatives space can participate… coming up Chairman… Riski for derivatives