21.   Now Congress is considering how to oversee the booming derivatives market.

22.   Now, however, the derivatives market is coming back.

23.   On the related issue of whether the CFTC has regulatory power over the OTC derivatives market, Greenspan said those markets operate safely and efficiently.

24.   Others are concerned that the huge, unregulated over-the-counter derivatives market could push down stocks in a panic.

25.   Previously, administration officials have said that regulators have adequate authority under existing laws to control derivatives markets and do not need Congress to pass any broad new legislation.

26.   Securities and Exchange Commission Chairman Arthur Levitt said pending legislation to deregulate derivatives markets, including U.S. futures and options trading, may harm investors.

27.   So with less volatility and increased risk awareness this year, many money managers began foraging back into the over-the-counter derivatives market.

28.   Some analysts said they fear the unregulated, over-the-counter derivatives market could exacerbate a market decline.

29.   Soros, who was unavailable for comment for this article, said he thought knock-outs were such a problem they warranted increased regulation of the derivatives market.

30.   Swiss Re and CS Holding each own stakes in the other and also have various joint ventures, mainly to exploit opportunities in the insurance derivatives markets.