The Problems With Derivatives Clearing
By Stephen J. Lubben
Published: April 5 2011 NYTimes
The International Monetary Fund is out with a new paper on derivatives after the storm, and it is a strangely academic exercise for an institution that one would hope would be a bit practical. In short, the paper argues that the focus in the Dodd-Frank Act on central clearing of derivatives is not the best solution and that central clearing parties are apt to become “too big to fail.”
full article 
(subscription)
