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It was not a loan, it was a total return swap on leveraged CFDs. CS took the market risk for a fee, picking up pennies in front of a steamroller.
by incrudible 6y ago
It was not a loan, it was a total return swap on leveraged CFDs. CS took the market risk for a fee, picking up pennies in front of a steamroller.
- lordnacho 6y agoPrinciple is the same. There's still some kind of margin maintenance with swaps (I traded swaps too). Plus as the PB you can ask for sensible terms.
- sschueller 6y agoWell they seem to be getting run over by a steamroller every other week. Greensill is already yesterdays news...