WASHINGTON--The economic problems created by credit default swaps for American International Group and other firms is likely to result in federal regulation of the swaps market in general and insurance companies in particular, a regulatory analysis firm said.
In an investment note today, Sam Leaman of Washington Analysis said several congressional hearings this week indicate that tightening regulation of the credit default swaps market will probably be one of the first orders of business for Congress next year.
Citing hearings this week by the Agriculture Committees of both the House and the Senate, Mr. Leaman said regulation of CDS "will undoubtedly be part of next year's revamping of the regulatory structure for the financial services industry."
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