Isda chair on twin threats facing OTC market
Capital a “sword of Damocles”, says Litvack; cleaner CSAs will fix valuation woes
A sword, suspended over a throne by a single horse's hair: as legend has it, this is how the Greek tyrant Dionysius showed a courtier that life as a ruler was haunted by fragility and fear. Derivatives dealers know the feeling, says Eric Litvack, chairman of the International Swaps and Derivatives Association.
"Prudential reforms are a sword of Damocles hanging over the derivatives market and the capital markets in general," he says.
It's a doomy way to go into the association's thirty-first
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