History
ISDA was initially created in 1985 as the International Swap Dealers Association and subsequently changed its name switching swap dealers to Swaps and Derivatives. This change was made to focus more attention on their efforts to improve the more broad derivatives markets and away from strictly interest rate swap contracts.
Mark C. Brickell was the President of the International Swaps and Derivatives Association from 1988-1992. He helped defeat US Congressional efforts to regulate derivatives in 1994 and again in 1998.
In 2009 a New York Times article mentioned that in 2005 the ISDA allowed rule changes to CDO payouts (Pay as You Go) that would benefit those who bet against (shorted) mortgage-backed securities, like Goldman Sachs, Deutsche Bank, and others.
Read more about this topic: International Swaps And Derivatives Association
Famous quotes containing the word history:
“The history of mankind interests us only as it exhibits a steady gain of truth and right, in the incessant conflict which it records between the material and the moral nature.”
—Ralph Waldo Emerson (1803–1882)
“The myth of independence from the mother is abandoned in mid- life as women learn new routes around the mother—both the mother without and the mother within. A mid-life daughter may reengage with a mother or put new controls on care and set limits to love. But whatever she does, her child’s history is never finished.”
—Terri Apter (20th century)
“The history of every country begins in the heart of a man or a woman.”
—Willa Cather (1876–1947)