A very large shadow financial sector has grown up in the United States, which is driven in part by efforts to avoid government regulation. That is how Enron went from being a gas transmission company to a major derivatives trader. That is also how AIG, an insurance company regulated by the states, became a major threat to financial stability by trading credit default swaps. In order to understand threats to the financial stability from companies like Enron and AIG, the OFR will need to collect data from such companies.