US may curb speculation in credit default swaps
China Daily | Updated: 2009-07-29 08:00
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US Senator Barney Frank, chairman of the House Financial Services Committee. The committee has drafted a bill to curb speculation in the credit default swaps market. Bloomberg News |
WASHINGTON: Congress will consider steps to curb speculation in the $39 trillion credit default swaps market and could prohibit investors from speculating on a borrower's credit quality, according to a US House of Representatives Committee document obtained by Reuters.
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