Credit-default swaps provide a means to insure against default risk and require the posting of collateral by

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Credit-default swaps provide a means to insure against default risk and require the posting of collateral by buyers and sellers. Explain how these “safe-sounding” derivative products contributed to the 2007-2009 financial crisis?

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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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Question Posted: Oct 02, 2014 07:58 AM

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Credit-default swaps provide a means to insure against default risk and require the posting of collateral by

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Money Banking and Financial Markets

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