Thursday, October 9: “Somehow you need to get lending going again.” It feels like capitulation

There was no going back to those halcyon days when the financial system had the capacity to resolve issues itself, perhaps with the aid of a few monetary tweaks by the central banks.

The week Wall Street capitulated

“Enough! Just sell my stock, sell me anything with credit risk and buy T-bills – at least I know I’ll get my money back”

Thursday October 9: Christopher Cox, chair of the SEC: urged Congress and Treasury to regulate the credit derivative market

Thursday October 9: Christopher Cox, chair of the SEC: urged Congress and Treasury to regulate the credit derivative market

As the bandwagon to clampdown on credit derivatives gathers pace, Christopher Cox, chair of the SEC, says that Congress should act to allow the regulation of the credit default swap market.

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