[quote=stansd]
Financial innovation has risks, these risks are becoming much more well understood. Regulations that will have huge long term negative consequences are being proposed precisely at the moment when they are least necessary.
Stan[/quote]
Actually, I just changed my mind regarding CDS’s.
As long as there is no bailout and the counter-parties that underwrote swaps they can’t afford to pay off are allowed to default on them, I’m fine with the situation. Let the hedgies eat their bogus contracts; hope they like them!
