The new Basel rules are rightly designed to ensure bank capital and liquidity structures better reflect risks and reduce the systemic exposure for taxpayers.

WSJ: Rock Star Draghi Needs a New Song for Europe

Similar practices also caused massive systemic exposure to credit default swaps (CDS), as traders bet on credit defaults without holding any of the underlying debt obligations.

FORBES: Intelligent Investing Briefing Book

First, the bill would exempt swap participants whose derivatives exposure does not create systemic risk (almost any firm can make that claim).

FORBES: Heads Up

By talking to prime brokers (the arms of banks that serve hedge funds), the authorities have also been able to monitor the aggregate level of hedge-fund exposure, and thus systemic risk.

ECONOMIST: A wrongheaded fund-management directive from Brussels