Lehman’s ‘ghost’ recalled in latest margin debate
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Lehman’s ‘ghost’ recalled in latest margin debate

The world’s biggest bond traders and asset managers, such as Bill Gross’s PIMCO, are attacking the industry’s internal regulator over a margining proposal on forward trades of mortgage backed securities. The debate is leading some to claim regulatory overkill — but others point to the collapse of Lehman Brothers as reason enough for stronger safeguards.

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