U.S. Pushes Ahead With Derivatives Regulation

The Obama administration yesterday unveiled a plan to regulate a vast market of exotic financial instruments known as derivatives, which fueled the global economic crisis and wounded some of the biggest names on Wall Street.

As the administration's first step to overhaul financial regulations, the proposal calls on Congress to establish rules that would restrict the banks, hedge funds and other investors that trade derivatives on what have been called "dark markets" for their lack of oversight.


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