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Congress will likely move next year to require companies that insure credit default swaps–such as American International Group–to at least partially reserve against potential losses, according to Rep. Barney Frank, D-Mass., chair of the House Financial Services Committee.

In comments at the Consumer Federation of America’s recent annual conference, Rep. Frank characterized AIG’s decision to guarantee against losses on mortgage-backed securities backed by subprime loans at the holding company level as “unregulated speculation.”

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