" market leader in interest rate swaps. There was a natural role for a blue-chip corporation with the highest credit rating to stand in the middle of swaps and long-term options and the other risk-spawning innovations. The traits required of this corporation were that it not be a bank—and thus subject to bank regulation, and the need to reserve capital against risky assets—and that it be willing and able to bury exotic risks on its "

― Michael Lewis , The Big Short: Inside the Doomsday Machine