Financial Markets

The last paragraphh is very interesting  !!!
Credit Default Swaps – Through The Looking Glass
Posted At : April 12, 2009 12:42 AM | Posted By : Satyajit Das
CDS contracts and credit derivatives are complex and powerful financial instruments that frequently have unforeseen consequences for market participants and the financial system. As former New York Federal Reserve [...]

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Credit Default Swaps – Exercises in Surrealism
March 16, 2009 5:35 AM |  Satyajit Das

At the quantum level, the laws of classical physics alter in intriguing ways. In financial markets, at the derivative level, the rules of finance also operate differently.The derivative industry’s indefatigable advocacy of credit default swaps (“CDS”) centers on the fact that contracts [...]

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A nice graphic . .   :

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