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Peterson in Europe to talk swap rules

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By Janell Cole

and Don Davis

Forum

Communications

U.S. Rep. Collin Peterson, D-Minn., left for Europe this weekend to discuss ways to regulate little-known and difficult-to-understand "credit default swaps."

The swaps are insurance-like contracts that financial institutions use to cover losses in bonds and other financial documents. They are not regulated, and Peterson thinks countries should watch them closely.

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