WEDNESDAY NOVEMBER 12
Your Key To The Fed’s Big, Bad Clearinghouse

If the Federal Reserve is preparing to set itself up to be the lead regulator for clearing trades in the $33 trillion credit-default swap market (and according to the usual “people with knowledge of the proposal,” it is) will it also claim it’s going to do one thing and then do another, per the usual protocol? We now think that’s a reasonable question to ask.

November 2008

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