Huh? People use Credit Default Swaps (CDSs) for decades to speculate on debt defaults... "South Sea Bubble to learn how to regulate insurance to prevent this k

Huh? People use Credit Default Swaps (CDSs) for decades to speculate on debt defaults... "South Sea Bubble to learn how to regulate insurance to prevent this kind of thing." - AIG (at the time the biggest insurance company in the US) went down in 2008 during the Great Financial Crisis because they insured sub-prime loans (CDS again).. So I guess there are lots of holes regulators still need to learn....