Sen. Lincoln says regulators need more power to oversee derivatives

12/3/2009 | Reuters · Reuters

Sen. Blanche Lincoln, chairwoman of the Senate Agriculture Committee, said regulators need more power to supervise the over-the-counter derivatives market. "We need to remember our overarching goal -- increasing transparency and accountability in the nation's financial markets," Lincoln said during a Senate committee hearing. Treasury Secretary Timothy Geithner said some nonfinancial derivatives users, such as airlines and manufacturers, might warrant exemption from mandatory clearing.

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