Monday, November 9, 2009
CDS Tool of the Devil and other views
David Einhorn the boy-genius founder of Greenlight Capital thinks the instruments which have served him so profitably ought to be banned outright. As he put it: I think that trying to make safer credit default swaps is like trying to make safer asbestos. The FT story prompted some of the bigger guns in the econo-blogosphere to take a position on either side of the CDS divide.