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Credit Default Swaps: The Next Crisis

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posted on Mar, 17 2008 @ 07:53 PM
Prepare yourself for the new version of CrabJobs from the makers of ScamJobs

As Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds. Not familiar with credit default swaps? Well, we didn't know much about collateralized debt obligations (CDOs) either — until they began to undermine the economy. Credit default swaps, once an obscure financial instrument for banks and bondholders, could soon become the eye of the credit hurricane.

Be Wise and Stay Awake, Expect the Unexpected, Don't get caught with your Pants Down !!!

Mod Edit: No Quote/Plagiarism – Please Review This Link.

[edit on 17-3-2008 by Crakeur]

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