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Politics : Ask Michael Burke

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To: Mike M2 who wrote (117182)	12/8/2008 2:18:53 PM
From: GuinnessGuy	Read Replies (1) of 132070

M2, you wrote- " In 1998 Brooksley Born head of CFTC argued for the regulation of SWAPS - Rubin & Greenspan opposed regulation. I'm curious, does having a clearing house for these kinds of things constitute regulation? I wouldn't think so, yet there was none, which is really gumming up the works since many don't know who owes them money - or so I've heard. Can anyone in the know add anything to what potential havoc exists simply because there is no clearing house for these instruments? craig

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