[Credit Default] Swaps Come Under Fire

Wall Street Journal ^ | March 9, 2010 | Stephen Fidler, Gregory Zuckerman, and Brian Baskin

[UAConservative]

International momentum is building for stricter oversight of derivatives trading, as a top U.S. regulator recommended new limits on credit-default swaps and European leaders pushed for a ban on speculative bets against government debt following recent financial turmoil in Greece.

[UAConservative]

It was all okay during the years when CDSs were being sold like candy for private bonds, but now that everyone is buying them for government bonds, that same government considers them evil and wants them BANNED!

I'm grabbing the popcorn, because once the EU and Greece ban these, the ---- is going to hit the fan because no one is going to buy their debt since they're all so close to default.

[boomstick]

I’m just shocked that our solons can even spell “CDS”. Of course Gensler is an ex-Goldman guy, so maybe that explains why it has only taken him half a year to figure that out; Marcy and Maxine are still wondering why everyone is worried about CDs.

[Lorianne]

The Warning
http://www.pbs.org/wgbh/pages/frontline/warning/view/?utm_campaign=viewpage&utm_medium=grid&utm_source=grid