Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: axial who wrote (1272)	3/6/2009 11:11:48 PM
From: Hawkmoon	Read Replies (1) of 2794

Trig, Forgot to comment about the following: Scholes also recommended moving the trading of credit-default swaps, asset-backed securities and mortgage-backed securities to exchanges to allow for “a correct re-pricing” of the assets. I'm not sure how moving these to an exchange will help. For an exchange to work, there has to be liquidity and the ability for the "specialist" to take the other side of a position when no one else will step up to the plate. It will only work if credible counter-parties are permitted to engage in such transactions. Nor more participation by speculators with no skin in the game and seek to trade them short term. A loan is something that is typically a long-term financial transaction and it's not smart to permit short-term traders to meddle to the point where they control all the trading. Hawk

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