CDS felt to be a sophisticated market, best left alone
Credit default swaps perceived to be complex products created by smart people who knew what they were doing and being sold to similarly sophisticated institutions—and it would be best for the market if the government simply stayed out of the way.
CONTEXT(Help)
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The Global Financial Crisis »The Global Financial Crisis
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Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
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Unintended consequences of earlier public policy choices »Unintended consequences of earlier public policy choices
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Investment banks incentivised to move into riskier activities »Investment banks incentivised to move into riskier activities
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Originating and distributing complex derivative securities »Originating and distributing complex derivative securities
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Congress missed opportunity to regulate Credit Default Swaps in 2000 »Congress missed opportunity to regulate Credit Default Swaps in 2000
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CDS felt to be a sophisticated market, best left alone
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