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Corralling credit default swaps

As the market's biggest buyers, hedge funds want to see CDS regulated - but only so far.

By Neil O'Hara In the debate about overhauling the financial system to prevent another collapse like last year’s, few subjects are as contentious as the $28 trillion credit default swaps market. It’s arcane, complex, secretive and immensely lucrative for both the banks that sell them and their biggest customers—hedge funds. Hedge

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