Be vewy, vewy qwiet – we’we hunting AIGs

Here's an FT Alphaville post run through The Dialectizer, set to Elmer Fudd:

As pawt of the Dodd-Fwank Act, vawious types of pawticipants in dewivatives mawkets need to be defined. Accowding to the jewsey one uwtimatewy gets as a twadew of intewest wate swaps, cwedit defauwt swaps and so on, diffewent weguwations may appwy.



(Whewe “secuwity-based”, weguwatow eqwaws SEC, othewwise CFTC.)

One of the weasons fow doing things this way is to ensuwe that thewe isn’t some entity that is significant to the functioning of the mawket, which goes unwatched because weguwatows miss what it’s up to in buying ow sewwing swaps. Oh, dat scwewy wabbit!

In showt, thewe is a wot of effowt being made in pawticuwaw mawkets, and ovewaww via the definitions fow systemicawwy impowtant institutions, to ensuwe that nothing escapes the weguwatowy net.

 Even mowe to the point: it wouwd be embawwassing to have anothew AIG. De insuwew wasn’t showt on weguwatows but none of them effectivewy weguwated its swaps activities....MOWE (click 'dialectize' button)

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