Sen. Allard: OTC credit derivatives market trades on an “immature” level
Sen. Wayne Allard (R-Colo.) says that the recent turmoil in the credit markets and the demise of Bear Stearns has caused many to scrutinize the role of credit derivatives and the banks exposure to the “potentially risky” financial statements. Allard also says that the OTC credit derivatives market is still relatively new and trades on a market that lacks substantial infrastructure and transparency. (1:24)
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July 9, 2008
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