Just a few years ago CDS, or credit default swaps, were considered by liberal politicians to be the cause of the financial meltdown.
The Left thus conveniently forgot the real cause of the financial meltdown, which would have pointed to much of their past political activity. That financial debacle owed much more to Washington antics and influence than it did to Wall Street.
But Credit Default Swaps are back because they are needed in a burgeoning market by a number of industries, particularly big banks. Even the debt of General Motors Co. debt which doesn’t presently exist, but may in the future.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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