Seven is a lucky number in some cul tures, but for regulators tasked with fleshing out America's Dodd-Frank act on financial reform it is more curse than blessing. Writing rules for Title vn of the law, the section on over-the-counter (otc) derivatives, is proving devilish. Few question the push for more regulation. Freewheeling swaps markets were not the main cause of the crisis but they played an unwelcome role, multiplying and masking leverage.
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