should cds be banned

Quote from kridge:

Actually, it's more like telling people they can't buy auto, home, or life insurance unless they have an "insurable interest" in the subject of coverage.

Which, as it happens, is exactly how insurance works. Try buying insurance on your neighbor's home sometime.

There are plenty of ways to speculate, without needing to allow "naked" CDSs.
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so are you saying there need to be a "Department of Verifying Insurable Interest?" who decides whether your interest is insurable or not? Maybe some buereocrat (sp)?

Just make the sellers keep collateral. Much easier. I bet if they actually had to have reserves they'd become a lot more expensive...
 
Ban CDS?

Where are we?
Castro's brothel? (Cuba)
Chavez Venezuela?

CDS are part of the economic freedom, maybe they just need to make sure that issuers have an adequate plan and reserves (like any other insurance).
 
An oldie, but still valid:

The speculator’s deadly enemies are: Ignorance, greed, fear and hope. All the statue books in the world and all the rule books on all the Exchanges of the earth cannot eliminate these from the human animal.
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Quote from Mvic:

Yes according to Soros, or at least limited to hedging actual positions and not to be used for speculation per se.

http://www.ft.com/cms/s/0/49b1654a-ed60-11dd-bd60-0000779fd2ac.html?nclick_check=1
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Thats quite a change from the Soros Apr 08 when he said he wanted CDS traded in exchanges. If a guy like him that can kill the S&P and has higher than average reasoning ability doesn't know what should be the changes, what about the moron regulators appointed for political reasons who cant beat the market with a time machine and have a hard time changing their minds?

Soros essentially is fighting a losing battle. Its like during WW2 someone comes out and says "This is so tragic, we ought get together learn from this and make sure we never have wars again"
 
Yeah.

Let's not ban anything.

Let's not change anything.

Keep on keeping on.

Powa to da
power-to-the-people.jpg
peeple.
 
that is the point.

these wall street firms dealing in CD were not regulated.

futures market are not regulated by the SEC.

they had no regulation and if they did they bribed the regulators to just ignore all the warning signs.

this cd or subprime mess was already fucked in 2003. it was just disaster waiting to happen.

i guess the asian crisis in 1997 and LTM in 1998 didn't open anyones eyes.

Quote from Landis82:

I'm sorry, but you have no idea what you are talking about. Besides, you didn't have to be a bank or an insurance company to buy/sell CDS securities.
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wall street is paradise for crooks and hustlers.


Quote from Landis82:

I'm sorry, but you have no idea what you are talking about. Besides, you didn't have to be a bank or an insurance company to buy/sell CDS securities.
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you dont get it.

95% of these clown can't make serious money legitimately.

only by scam.

so they scam.

its our job to stop them in the act.

we didn't do it.

cause there's no will.


All of a sudden everyone is looking at how much money these bastards take down that work for public co's. I've been saying it was a scam for decades.

Fuggem all.

Now a guy like Petterfy at IBKR, he's entitled. It's his $ on the line.

These harvard asswipes running banks and brokers? The only reason they have ANY vested interest at all is the stock they stole from the treasury or bought with stolen money.
 
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