Financial news on December 12, 2010

Business and Financial news
A Secretive Banking Elite Rules Trading in Derivatives

In theory, clearinghouses exist to safeguard the integrity of the multitrillion-dollar derivatives market. In practice, they also defend big banks’ dominance. Read more..

By LOUISE STORY - The New York Times

Risky Borrowers Find Credit Again, at a Price

Lenders are again offering credit to the riskier borrowers they once shunned, but they are choosing their prospects carefully and setting terms. Read more..

By ERIC DASH - The New York Times

See what else happened on December 12, 2010