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 (1606)	5/11/2010 9:11:39 PM
From: Hawkmoon	1 Recommendation Read Replies (1) of 2794

Hummph.. not even ONE MENTION in that article regarding the morality of buying insurance when you don't have an insurable interest in the underlying asset. Can we imagine the potential chaos and criminality that would result if we could all buy fire insurance on our neighbor's houses? We'd have entire communities attempting to commit arson so they could collect on those policies. I'm not against CDS as a form of international insurance between counter-parties with insurable interests. If you buy an asset and want to insure it, that's fine. But buying insurance on someone else's assets is BS. Hawk

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