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August 12, 2009

Admin Finalizes Plan to Regulate Derivatives
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The Obama administration has sent lawmakers its plan for new regulations
of derivatives, the complex financial instruments that played a major
role in the nation’s economic collapse. The White House wants rules that
would have a form of derivatives, credit default swaps, traded on public
exchanges and backed by existing capital. But it hasn’t endorsed calls
for an outright ban on derivatives linked to speculative trading. The
administration’s proposal marks the last element of its overhaul of
financial regulations. Lawmakers will consider the plan when they return
from August recess.