Saturday, Mar 06, 2010
Down with this sort of thing!
The Times: Merkel calls for end to speculators who bet against Greece
“Credit-default swaps, where you insure your neighbour’s house just to destroy it and make money from it, that’s exactly what we have to curb,” she said, adding that the issue was a global one and that action needed to be taken with the US.
Posted by devo @ 11:09 PM (359 views) Add Comment
2 Comments
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1. d'oh said...
Oops. Frankenstein's has made his monster, and is now upset he can't control it.
2. paul said...
When they generate huge profits, hedge funds trading CDSes are a good thing. No surprises that when those same speculators bet on sovereign defaults, they are bad bad people.