Rivers of ink have been spilled on designing a regulatory response to the global financial crisis. On global financial dispute resolution, not so much.

“The newspapers are full of stuff about regulation,” complains derivatives guru Jeffrey Golden of Allen & Overy, “but there’s not a word about judges and courts. The whole focus is on preventive medicine, and nobody’s paying attention to the hospitals full of sick patients.” By sick patients, Golden means banks caught in litigation over structured finance.

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