"Some are greatly exaggerating their role--it's like they're accusing [the industry] of being a serial killer. But your fingerprints are on the weapons by many of the bodies in the field and so trying to argue you're a murderer and not a serial killer is tough."
--Patrick Parkinson, senior adviser on the Federal Reserve Board, explaining why some regulators are so opposed to credit default swaps, even if they were not the cause of the financial crisis.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts