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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (10332)	10/22/2008 10:28:22 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

Morning all.. Old ones should be regulated, and any new system would need these instruments to be treated no different than regulated insurance policies secured by assets rather than alchemy. That's going to bring up a serious issue, since US insurers are regulated by the states, not the Federal Government. That's likely one of the reasons CDS's were created, to circumvent the regulatory limitations that involve traditional financial surety policies. Looks like insurance is about to go the way of the securities industry, and is destined for federal oversight and regulation. But since CDS contracts are essentially derivative hedging instruments, will it be the CFTC, SEC, or some new entity? Hawk

To: ajtj99 who wrote (10332)	10/23/2008 1:51:07 AM
From: John Pitera	1 Recommendation Respond to of 33421

AJ, I agree with you and think that you have already won the prize I was considering proposing. A steak or Sushi Dinner for whoever comes up with the best remedy to extricate ourselves from this Credit Default Swap quagmire.... key point you make..... any new system would need these instruments to be treated no different than regulated insurance policies secured by assets rather than alchemy. I am expecting Seantor Jay Rockefeller to provide leadership on the unwinding of this CDS minefield. I know he is the head of the intelligence arm of the Senate Committee, but this is a global problem that needs a resolution that addresses this probem in it's entirety and I believe he has among the best understanding of this area of those more senior senators. As he has substantial information flows from the largest pubic companies that the Rockefeller Foundation owns substantial interest in.... coupled with his Senior Statesman Information flows..... THUS THE MOST KNOWLEGABLE EXECUTIVE/ LEGISLATOR IN THE USA. Step up and Govern..... as the Romans whould say.... look at his portfolio......As of 2007, Rockefeller serves on the following: Select Committee on Intelligence – Chairman Subcommittee on Oversight of the Terrorist Surveillance Program (Vice Chairman) Committee on Veterans' Affairs Committee on Commerce, Science, and Transportation Subcommittee on Aviation Operations, Safety, and Security (Chairman) Subcommittee on Consumer Affairs, Insurance, and Automotive Safety Subcommittee on Interstate Commerce, Trade, and Tourism Subcommittee on Science, Technology, and Innovation Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security Committee on Finance Subcommittee on Health Care (Chairman) Subcommittee on International Trade and Global Competitiveness Subcommittee on Social Security, Pensions and Family Policy Joint Committee on Taxation United States Trade Advisor Senate Steel Caucus – Co-Chairman [edit] Iraq War If the Honorable Senator is Bereft of ideas for a workout, we will happily supply some suggestions. John