Testifying before the House Committee on Financial Services, Geithner defends the White House's...
Testifying before the House Committee on Financial Services, Geithner defends the White House's plan to clamp down on regulation of OTC derivatives, including infamous credit-default swaps. Opponents are worried the proposal may drive traders away from standardized products. Here's the webcast. Update: Geithner's prepared remarks.
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Comments (1)
Another example of opposing regulations blindly. These are instruments that brought the US economy and the world economy to its knees. Why would a honest trader be opposed to trading on an exchange? Personally, I welcome the lower counter party risk as well as the liquidity.