Credit Default Swaps (CDS) will be the big story of 2009

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Terresainte

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Credit Default Swaps (CDS) will be the big story of 2009

posted on Dec 28, 2008 11:26AM

The 57,325 billion outstanding in CDS Credit Default Swaps i.e. derivative bets (insurance) against a bond default will wreak havoc through 2009.

The outstanding CDS amount is so huge that even a 1% default may be too big to handle, think e.g. the auto industry GM et al representing 25% of the outstanding bonds.

A good article on:

http://www.bullionmark.com/2008/12/c...

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