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Article: Regulators seek tighter oversight of derivatives
- Article from:
- AP Worldstream
- Article date:
- October 7, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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As two federal regulators asked a House panel to tighten proposed legislation imposing new oversight on derivatives, Republican lawmakers contended the measure already could eliminate jobs and stifle companies' ability to manage risks.
A potent new coalition of about 170 companies that use derivatives _ including Boeing Co., Caterpillar Inc., Ford Motor Co., General Electric Co. and Shell Oil Co. _ is lobbying Congress to make the case that legislative proposals to regulate the complex financial instruments could severely increase costs for corporate America.
"The end-user community has been constantly knocking on my door," Rep. Frank Lucas, an Oklahoma ...