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Mr. Harkin is pushing legislation that would require all over-the-counter derivatives trades to be cleared through a regulated exchange.
Under the legislation, most derivatives trades would have to be cleared through a middleman to ensure that the bankruptcy of one party to a contract would not put the other party out of business.
The contracts must also be cleared through a third party, an intermediary who guarantees that if one party defaults, the investor holding the other side of the trade will still be paid.
Scientology teaches that the source of people's unhappiness lies in "engrams", psychological burdens acquired in the course of painful experiences, which can be cleared through a type of counselling called "auditing" made available by the Church of Scientology.
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Sheriff Arpaio has denied the claims of racial profiling and has said that allowing a court monitor would mean that every policy decision would have to be cleared through an observer and would nullify his authority.
The bill would also create a new consumer protection agency within the Fed; require derivatives trading to be cleared through an exchange; and strengthen oversight of credit rating agencies.
The device was cleared through a regulatory pathway that did not require it to undergo clinical trials.
Rather than lending directly to borrowers, all the trades are cleared through a central platform, which reduces counterparty risk.
Far less collateral would be needed if the contracts were cleared through a multilateral clearing house where more deals could be offset against each other.For years, derivatives exchanges have sought to capture some of the fantastic growth seen in the over-the-counter (OTC) derivatives market.
The study, which was posted on the Web site of The Archives of Internal Medicine, found that most medical devices that were the subject of high-risk recalls from 2005 to 2009 had been cleared through a regulatory pathway that requires little, if any, testing.
The fact that these contracts are cleared through a central clearing system also guarantees the integrity and cost minimization of the transaction.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com