Originally posted by eek
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Greece on verge of breakthrough in deal to cancel 70% of debt
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Originally posted by BrilloPad View PostAbsolutely - but if they have sold the CDS they are probably not bondholders? Doesn't the greek government negotiate with the bondholders?"A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester FreamonComment
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CDS should have been illegal in the first place - it's like it should not be posible to insure criminal acts or get guarantee of success: if it wasn't for this tulipy thing lots of schemes would not work because risk would have to be born by whoever got into it without any illusion of insurance making it suddenly AAA asset.
Perhaps any insurance related to financial instruments should be banned - plenty of money to be made in ripping off car motorists.Comment
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Originally posted by AtW View PostCDS should have been illegal in the first place - it's like it should not be posible to insure criminal acts or get guarantee of success: if it wasn't for this tulipy thing lots of schemes would not work because risk would have to be born by whoever got into it without any illusion of insurance making it suddenly AAA asset.
Perhaps any insurance related to financial instruments should be banned - plenty of money to be made in ripping off car motorists."A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester FreamonComment
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Originally posted by Freamon View PostCDS are illegal under the Life Insurance Act 1774. It's just not enforced.Comment
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