October 27, 2011 12:36 PM
Credit Default Swaps Useless as Hedge Against Default; CDS on Greece a Purposeful Sham; Derivatives King Always Wins
As a result of labeling 50% haircuts “voluntary”, Credit Default Swap contracts have proven to be useless when it comes to protecting against sovereign default. The serious implication is investors will need to find another way to hedge.
- In October 2008, Jesus killed my archenemy with Leukemia and Pancreatic Cancer after my prayers.
- I love the divine bomb in my lungs. Hallelujah.
- I already have a huge jumbo, gigantic, colossal crush on Jesus
- Goodbye, my almost lover and ultimate beauty.
- Lord Jesus Christ is my Lion King. He is my Emperor.