Credit Derivatives: Market Solutions to the Market Crisis
Credit default swaps play a productive role in U.S. andinternational financial markets. The Administration and Congress should encourage continued market improvements rather than imposingrestrictions or significant new regulations. To the extent that newregulation is deemed necessary, policy should focus onrationalizing the regulatory framework, not on imposing new rulesor creating new agencies on top of the existing ineffectivestructure.
Source: heritage.org