Credit Default Insurance Were Credit Default Swaps Illegal?
Were credit default swaps illegal? - credit default insurance
A CDS is a false name "secure by default". Do not use the name, these banks need cash reserves for any claims or equity guarantee. Very unethical, but it is not technically illegal? If so, why is there no legal action? In contrast to these silly hearings in Congress, where only trying to bring some heads in embarrassment.
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