cds

President Obama’s top economic adviser on Thursday defended his role as a leading force behind the sweeping deregulation of the finance industry a decade ago, which many experts consider to be a cause of the current economic crisis.
Appearing before hundreds of business officials in Washington, Larry Summers said the finance industry has evolved both enormously [...]

As the economy sinks toward recession and increased regulation gains support, lawmakers aim to tackle the elusive, unregulated derivatives market, with a focus on credit default swaps.