Question: Credit default swaps, a derivative instrument described in Chapter 30, allow investors to buy and sell protection against the default of a municipal issuer. Why

Credit default swaps, a derivative instrument described in Chapter 30, allow investors to buy and sell protection against the default of a municipal issuer. Why do you think it is difficult to find investors who are willing to buy protection against default of a municipal issuer but a large number of investors are willing to sell such protection?

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