11/20/2008 05:12 am ET Updated May 25, 2011

Turf War Develops Over Regulation Of Credit Default Swaps Market

The government is moving forward with its first significant effort to bring oversight to a vast, unregulated corner of Wall Street that has severely exacerbated the financial crisis.

But a turf war is brewing among three leading federal agencies that have contrasting visions for how the $55 trillion market for speculative financial instruments known as credit-default swaps should be regulated.

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