3 ms·
Agree, so much of our global financial system is just made up and produces wealth from the ether. Credit default swaps...
by wonderwonder 3y ago
Agree, so much of our global financial system is just made up and produces wealth from the ether. Credit default swaps...
- wmf 3y agoCredit default swaps are not magic; if you can correctly predict future default risk you can use CDSes to take money from people who predict wrong (and this also provides information to the market, encouraging the underlying to be more accurately... never mind).