Saturday, March 6, 2010

Down with this sort of thing!

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 (757 views)
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2 thoughts on “Down with this sort of thing!

  • Oops. Frankenstein’s has made his monster, and is now upset he can’t control it.

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  • 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.

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