CFTC Poised To Investigate Naked Credit Default Swaps
CFTC wants to investigate the impact of CDS holders who benefit when a company defaults. Chairman Gary Gensler is hinting at a possible overhaul of U.S. bankruptcy rules.
Suzanne Miller
April 13, 2010
Gary Gensler, the nominee to head the Commodity Futures Trading Commission, testifies at a Senate Agriculture Committee hearing in Washington, D.C., U.S., on Wednesday, Feb. 25, 2009. Gensler is dogged by a decade-old debate with former CFTC Chairman Brooksley Born over whether to regulate private derivative contracts blamed in part for $1 trillion in global bank losses. Photographer: Ken Cedeno/Bloomberg News
KEN CEDENO/BLOOMBERG NEWS
