House panel plans to examine how CDS affected Greece

04/27/2010 | Wall Street Journal, The

The House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises plans to explore the role that credit default swaps played in the Greek crisis, with a hearing on the subject scheduled Thursday. The hearing "will begin the process of determining what impact the lack of transparency and those products have had and what Congress can and should do to bring stability, transparency, safety and soundness to the global financial system," said Rep. Carolyn Maloney, D-N.Y.

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