Obama to Offer Plan to Regulate Derivatives

Breaking News Alert
The New York Times
Wednesday, May 13, 2009 -- 3:06 PM ET
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Obama to Offer Plan to Regulate Derivatives

Marking its first major effort to overhaul financial regulation, the Obama administration will seek new authority to supervise the virtually unregulated complex financial
instruments, known as derivatives, that were a major cause of the market crisis, Congressional aides and others who have been briefed on the decision said Wednesday.