Treasury asks Congress for authority to clamp down on shadowy derivatives market

WASHINGTON — The Obama administration is asking Congress to extend its oversight of the financial system to include the shadowy market of derivatives, the kind of complex financial instruments that helped catapult the world into an economic crisis.

Treasury says it wants to clamp down on credit default swaps, privately traded derivatives

WASHINGTON — The Obama administration is asking Congress to extend its oversight of the financial system to include the shadowy market of derivatives, the kind of complex financial instruments that helped bring down the giant insurer AIG.

Treasury to detail plan to clamp down on credit default swaps, other derivatives

WASHINGTON — Treasury Secretary Timothy Geithner will announce a plan on Wednesday to strengthen federal regulations governing over-the-counter derivatives, a class of financial instruments that includes the risky contracts that helped bring down AIG.