NEW YORK–In a move toward developing a comprehensive credit default swap policy, a group of the nation's state legislators took testimony from experts, who urged putting swaps under state insurance regulators' control.
Among those who testified here Saturday at the National Conference of Insurance Legislators' hearing on credit default swap market regulation was Michael Greenberger, a University of Maryland School of Law professor, who said there is an acute need for better oversight and urged state lawmakers to take the lead on the issue.
Do not wait for the federal government to take action, he advised the NCOIL panel.
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