Swaps ‘Armageddon’ Lingers as New Rules Concentrate Risk – Bloomberg 12-21-12

Salient to Investors: In March 2013, up to 79 percent of swaps must be backed by collateral and go through clearinghouses. Lloyd Blankfein at Goldman Sachs said clearinghouses could be the world’s biggest systemic threat. Supurna VedBrat at BlackRock said they are the new too-big-to-fail. JPMorgan is the biggest swaps dealer in the US with $72

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