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:
“Certainly there is not the fight recorded in Concord history, at least, if in the history of America, that will bear a moment’s comparison with this, whether for the numbers engaged in it, or for the patriotism and heroism displayed.”
—Henry David Thoreau (1817–1862)
“A man acquainted with history may, in some respect, be said to have lived from the beginning of the world, and to have been making continual additions to his stock of knowledge in every century.”
—David Hume (1711–1776)
“It gives me the greatest pleasure to say, as I do from the bottom of my heart, that never in the history of the country, in any crisis and under any conditions, have our Jewish fellow citizens failed to live up to the highest standards of citizenship and patriotism.”
—William Howard Taft (1857–1930)