Absence of transparency means unknown liabilities and mistrust
The absence of transparency means that nobody knows the liabilities of others, and, when things starts to go wrong, nobody feels that they can trust any one else.
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The Global Financial Crisis »The Global Financial Crisis
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Immediate triggers of the financial crisis? »Immediate triggers of the financial crisis?
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Pathology in the Credit Default Swaps market »Pathology in the Credit Default Swaps market
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CDS market complex, unregulated and secretive »CDS market complex, unregulated and secretive
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Absence of transparency means unknown liabilities and mistrust
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Should regulators have created a public exchange for CDS? »Should regulators have created a public exchange for CDS?
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No one knows the scale of any player's existing liabilities »No one knows the scale of any player's existing liabilities
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