The new report, published by the CEPR and the Geneva based International Center for Monetary and Banking Studies, was co written by Roger Ferguson, a former vice chairman of the Federal Reserve and now an executive at Swiss Re; Philipp Hartmann, head of financial research at the European Central Bank; and Fabio Panetta, a top staffer at the Bank of Italy. "The regulators as a class missed the accumulation of these highly complex financial instruments that were probably mispriced," Mr. Portes said at a news conference. "At the same time, one could say that all the fuss about the hedge funds meant that hedge funds were actually OK," he added. The think tanks' recommendation coincides with growing calls from European policy makers to use the credit crunch that swept over from the U.S. as a catalyst for speedier and broader overhauls of their market structures....<br><a href='http://best-huge-blog.com/news/7894'>http://best-huge-blog.com/</a>