Credit Default Swaps: ‘Financial WMDs’
We are all painfully aware of what is happening on Wall Street. In fact, I think that it might take several years for the stock market to regain the value that it has lost in the past year — approximately 35 percent. No doubt, there is plenty of blame to go around as to who is primarily responsible for this financial debacle. However, most experts agree that a prime candidate for blame is the credit default swap. A credit default swap is an investment instrument that is a so-called derivative security.
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Credit Default Swaps: ‘Financial WMDs’
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