Richard Portes
CDSs: Useful, Misleading, Dangerous?
Credit default swaps were once a form of insurance but the market has now become overwhelmed by ‘naked CDSs’ that allow speculators to make wildly destabilising bets.
Credit default swaps were once a form of insurance but the market has now become overwhelmed by ‘naked CDSs’ that allow speculators to make wildly destabilising bets.