Local banks, insurers, financial firms brace for a new regimen of rules. Tracking these investments [derivatives] is critical, according to many observers. More important even than putting them on an exchange, said Pozen, the chairman of MFS Investment Management, is having a central clearing firm that processes those trades and can be examined by regulators.

By Robert Gavin. Robert Pozen, chairman of Boston mutual fund firm MFS Investment Management, recently published a new book, “Too Big to Save?,’’ which explores the global financial crisis and the steps needed to reform the US financial system.

Within the context of state-based Connectors implementing the individual mandate, the most viable definition of the public option is a state-based health care plan currently serving governmental employees. That approach would sidestep the ideological debate, while helping to achieve the consensus goal of constraining health care costs.