Amendment Quote by Paul Singer
“The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion.”
About This Quote
Source Speech: Financial Reform Forum, 2020
Repealing the Orderly Liquidation Authority and amending bankruptcy law would stop cross‑default contagion in derivatives.
In simple terms: Change bankruptcy rules to protect derivatives.
Key Takeaway
Advocate for targeted legal reform.
Themes
finance
regulation
bankruptcy
Mood
analytical
concerned
Type
policy
economic
When to use this quote
- banking crisis
- policy drafting
- legislative lobbying
Key Concepts
cross‑default
derivatives
systemic risk
Questions to Reflect On
- How would this affect creditor rights?
- What safeguards are needed?
A Different Perspective
Complex legal changes may have unintended market effects.
