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A.I.G. has had to reduce the value of the swaps on its books.
New regulation of the swaps market will have its own unintended consequences.
Far from intimidating speculators, the use of the swaps actually encouraged them.
The bank has sold most of the swaps, at a loss of €205 million this year.
The agency unveiled the definition jointly with the Securities and Exchange Commission, which shares oversight of the swaps market.
If they are recent buyers of the debt, or were "naked" owners of the swaps, that's a pretty nice recovery.
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Compared with Dr.Swap, the state-of-the-art swap mechanism, Refinery Swap reduces more than 90% of swap operations and writes to NVM.
For Hamas, the timing of the swap agreement is almost ideal.
One, they ensure that the seller of the swap can pay up on its promise.
Yet the existence of the swap certainly helped IFIL and the Agnellis to stay in control.
Perhaps Irvine's loaded language was in response to the imbalance of the swap (or "scheme").
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