3 ms·
A credit default swap is not an insurance contract; you're in the world of 'buyer beware' not 'utmost good faith'. Even the monoline insurance wrappers around
by NovemberWhiskey 6y ago
A credit default swap is not an insurance contract; you're in the world of 'buyer beware' not 'utmost good faith'.
Even the monoline insurance wrappers around the various credit products were very atypically constructed insurance contracts.
- kansface 6y agoNot the swap itself, but the assessments provided by the ratings agencies.