1/1/2009By CHRIS MCMAHON
Few would argue the fact that 2008 has been a historic year. The subprime lending crisis has lead to the edge of a global recession. Equity markets across the world have been slashed, erasing nearly a decade of gains, commodity markets have plunged and despite heroic, though occasionally comic and frequently tragic, attempts at intervention, credit markets have frozen.
1/1/2009By CHRISTINE BIRKNER
The question of where credit default swaps (CDS) will trade and who will regulate them has yet to be determined, but potential players made their case and spoke of the role of credit derivatives in the U.S. economy at a D ec. 8 hearing before the House Agriculture Committee.
Sentinel Management Group’s bankruptcy trustee Fred Grede got busy in December, filing suits against Citadel, Goldman Sachs & Co. and FTN Financial Securities Corp in an attempt make creditors whole.
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