Monday, December 11, 2006


ECB Warns of `Herd-Like' Mentality in Derivatives
Sales of CDOs jumped 73 percent to $446 billion this year from a year earlier, according to data compiled by JPMorgan Chase & Co. The market for credit derivatives is the fastest-growing part of the derivatives market, helping to spur record earnings for banks including New York-based Morgan Stanley and Goldman Sachs Group Inc.

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