“People are terminating their contracts with Lehman, ” said Robert G. Pickel, chief executive of the association. “People are trying to close those positions and come up with values.”

“人们在中止与雷曼兄弟的合同，”该协会会长罗伯特.G.匹克尔表示，“大家已经在轧平头寸，以期保值。”

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Robert Pickel, chief executive of the International Swaps and Derivatives Association, a trade group, dismisses accusations of profiteering.

ECONOMIST: Derivatives: Over the counter, out of sight | The

The root cause of the crisis, Mr Pickel argues, is bad mortgage lending, not derivatives: swaps on subprime mortgages grew unstable because the loans themselves were dodgy.

ECONOMIST: Credit derivatives