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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (138414)12/3/2008 9:31:31 PM
From: emrs1  Read Replies (1) | Respond to of 312908
 
<If Britain or the USA defaults, than does anyone really think that some two bit operation will be able to honour the protection that they sold?
>

Maybe not, but you could profit as the sovereign's credit quality deteriorated. I would guess that few of the purchasers of this protection are doing so expecting outright defaults over the contract life.



To: robnhood who wrote (138414)12/4/2008 12:30:55 AM
From: E. Charters  Respond to of 312908
 
"If Britain or the USA defaults, than does anyone really think that some two bit operation will be able to honour the protection that they sold?"

Ahh, there's the rub. Though this be madness, there is a quick buck in it.


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