One of the more unhappy effects of the recent, massive rise in the price of crude oil has been its impact on those developing countries not fortunate enough to be oil exporters themselves. The authors offer a proposal for rechanneling some of the oil revenues to the impacted developing countries.

The aim of this article is to examine the threat of systemic risk posed by speculative OTC derivative financing to financial institutions and the efforts made by the regulators to reduce such risk. A critical and comparative analysis of the Anglo-American approach to regulate OTC derivatives is...