3 ms·Still no good reason for counterparties not even taking a minor haircut on CDS.by whatok 11y agoStill no good reason for counterparties not even taking a minor haircut on CDS.cmurf 11y agoIt encourages moral hazard.whatok 11y agoCan you explain? If I know that I will recover less than expected if a counterparty defaults, I'm going to diversify my counterparties. That reduces moral hazard.cmurf 11y agoI'm agreeing. Not taking haircuts encourages moral hazard.