Monday, August 04, 2008

Credit Default Swaps - the next crisis

BBC Newsnight feature by Alex Ritson on a little-known financial product that scares the wits out of some of the biggest names in the investment world. "This could bankrupt the bank where you have YOUR savings"

Part 1 - Link



Part 2 - Link


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3 Comments:

At 8/04/2008 7:59 PM, Blogger Robert said...

Randy,

Thanks for posting! All I can say is wow! I gather that the real reason to bail and Fannie and Freddie is to prvent a catastropy in the CDS market that would take down the whole system.

Instead, the Fed has drawn the circle around those financial institions that they will save, as evidence by the short selling rules, and those that will go.

All hands defuse the CDS bubble!

 
At 8/05/2008 12:04 AM, Anonymous Property in Brazil said...

Hi,

This is a good and very nice post.
I think this is right that our next crisis might be "Credit Default Swaps".
There should be some good decisions made to avoid these crisis.

 
At 8/05/2008 10:49 AM, Blogger Justin_n_IL said...

The latest from the genius himself.

http://www.usatoday.com/money/industries/banking/2008-08-04-greenspan-financial-institutions_N.htm

 

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