Senators wrangle over OTC derivatives exemptions
Author: Rachelle Younglai, Reuters
Mar 08, 2010
"Republican and Democratic senators are at odds over which financial players should be exempt from complying with proposed rules designed to shed light on the $450 trillion over-the-counter derivatives market.
Policy makers agree that the opaque market needs supervision after a type of derivative contributed to the financial crisis, but there is concern that some companies will be unfairly punished.
The concern is that non-financial companies such as airlines and manufacturers will not be able to use the derivatives to hedge risks related to their operations."
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In March, 2010, 44 percent of the unemployed had been without a job for six months or more.
Source: Ben Bernanke, Chair, Board of Governors of the Federal Reserve System
