i forgot to attach http://articles.moneycentral.msn.com/Investing/SuperModels/ABadMarketYouAintSeenNothin.aspx?page=2
The entire article is based on the analysis of Satyajit Das. So despite what Markman looks like or his spelling you have to consider the actual source of the information. Comprende?
Credit Default Swaps have always been kind of criminal. hey, I betcha Joe can't pay up. Okay, I'll buy that risk for a hundo, I think he can. What, he did'nt, could'nt pay up, err umm, what contract?