Tuesday, Sep 30, 2008
This is just incredible
CNN: The $55 trillion question
The financial crisis has put a spotlight on the obscure world of credit default swaps - which trade in a vast, unregulated market that most people haven't heard of and even fewer understand. Will this be the next disaster?
Posted by mark @ 11:15 AM (198 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. iguana said...
It will all be ok in the end.............as each financial institution fails and is taken over by the few, eventually the one, remaining player it will turn out that the provider of the dodgy loan has now repurchased the CDO by which they had disposed of it. It will also turn out that they have also purchased the default swap by which the CDO was secured. Hey presto, the failed loan that is now worth nothing, the CDO that is worth nothing, and the default swap worth nothing are all owned by the same institution................this means that.....errr......ummm.........