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Greenspan’s lighter scrutiny: Federal Reserve Chairman Alan Greenspan on Friday urged banks and other financial institutions to beef up their oversight over their investments in off-exchange financial derivatives but suggested there is less need for government scrutiny. Via satellite from Washington, he told a futures industry conference in Boca Raton, Fla., that the free market approach appears most adequate in determining exposure in the rapidly growing derivatives market despite heavy volatility last year that shook the financial markets.
