Sovereign credit-default swap transactions face mandatory disclosure

extract from Bob Chapman's the International forecaster of 26 May 2010 : "Sovereign credit-default swap transactions face mandatory disclosure rules in the wake of the Greek debt crisis, the European Union’s financial services commissioner said. Michel Barnier said he would deal with the sovereign CDS market ‘very severely.’ Credit-rating companies should also be subject to tougher transparency rules when rating a country’s ability to pay back its debt, he said. ‘These people don’t like being out in the light of day,’ Barnier said of sovereign CDS traders. ‘We’ll flood them with light.’ German Chancellor Angela Merkel and French President Nicolas Sarkozy have called for curbs on speculating with sovereign credit-default swaps, which many blame for exacerbating Greece’s fiscal woes. They have also called for a review of European Union rules regulating credit-ratings companies."


Mr. Chapman also known as The International Forecaster is a 74 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S. Army Counterintelligence, mostly in Europe. He speaks German and French and is conversant in Spanish. He lived in Europe for six years, off and on, three years in Africa, a year in Canada and a year in the Bahamas.

Mr. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm. He was probably the largest gold and silver stockbroker in the world during that period. When he retired he had over 6,000 clients.
Bob Chapman : you got to remove these people from the government
Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He owned and wrote the Gary Allen Report, which had 30,000 subscribers. He currently is owner and editor of The International Forecaster, a compendium of information on business, finance, economics and social and political issues worldwide, which reaches 10,000 investors and brokers monthly directly, and parts of his publication are picked up by 60 different websites weekly exposing his ideas to over 10 million investors a week.

In June of 1991, at the request of business associates, and due to retirement boredom, he began writing the International Forecaster.
Bob Chapman : do not expect the government to guarantee your bank account , it is bankrupt