Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/did-anyone-ever-propose-regula Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Did anyone ever propose regulation or restrictions on credit default swaps? Economy Oct 10, 2008 11:06 AM EDT Question/Comment: Excellent report on credit default swaps. Did anyone, Congress or the Administration, or the Clinton Administration, ever propose any regulation or restrictions on these financial instruments? Paul Solman: Ah, regulation. The “genius” of these contracts was that they functioned as insurance, but were created in such a way as to avoid the considerable state-by-state regulations of the insurance industry. Again, let me reference a good Newsweek story about this: The Monster That Ate Wall St. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now
Question/Comment: Excellent report on credit default swaps. Did anyone, Congress or the Administration, or the Clinton Administration, ever propose any regulation or restrictions on these financial instruments? Paul Solman: Ah, regulation. The “genius” of these contracts was that they functioned as insurance, but were created in such a way as to avoid the considerable state-by-state regulations of the insurance industry. Again, let me reference a good Newsweek story about this: The Monster That Ate Wall St. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now