Credit Default Swaps: The Good, The Bad And The Ugly

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Terry Young
Linnea McCord
Peggy J. Crawford

Keywords

credit default swaps, swaps, financial crisis, financial reform

Abstract

Credit Default Swaps have been a major cause of problems to financial institutions during the current economic downturn.  What is a CDS?  Why was it developed?  What went wrong?  This paper discusses these questions.

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