AccountingBLOCK - Tax and Accounting Forums

Predicting Drudge Story
[Ed: AccountingBlock.com readers expect a debate event on this website pertaining to defining
"derivative" securities revealing the relative simplicity to create "off balance sheet" securities
exempt fro SEC oversight. In short, they are L.P. and/or quasi business trust (a.k.a.: Unit Investment
Trust) shares.]



AP Executive Morning Briefing

Treasury asks for control of [US] derivatives market

WASHINGTON (AP) — The Obama administration is asking Congress to extend its
oversight of the financial system to include the shadowy market of derivatives, the
kind of complex financial instruments that helped bring down the giant insurer AIG. In
a two-page letter sent Wednesday to congressional leaders, Treasury Secretary Timothy
Geithner said he wants to create a central electronic-based system that would track
the buying and selling of derivatives. He also wants to ensure that financial firms selling
the instruments have enough capital on hand in case they default and subject them to
stringent standards of conduct and new reporting requirements.

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