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Politics : Mainstream Politics and Economics
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To: Jorj X Mckie who wrote (7533)1/26/2012 1:59:47 PM
From: sm1th  Read Replies (1) of 85487
 
People talk about the credit default swaps as if they were the cause of the whole mess.

The problem with CDS is that you don't have to own the asset to buy the insurance. Its like buying insurance on your neighbor's house, then burning it down. Institutions bought CDS and then took short positions to help trigger the defaults.
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