Senate Banking Committee and Christopher Dodd get the skinny on over-the-counter derivatives
Monday, 07/13/2009 - 8:11 am by Lynn Parramore | Post a CommentChristopher Whalen has answered a June 30 letter from Senate Banking Committee Chairman Christopher Dodd requesting responses following the hearing on OTC derivatives that the Committee’s Subcommittee on Securities, Insurance, and Investment held on June 22, 2009.
The complete Q&A, available on The Big Picture, outlines the fraudulent nature of credit default swaps and other OTC derivatives. Whalen makes the case for strong regulation, reminding the Committee that “the government of the US should not allow itself to be held hostage by speculators.”
