Back in early 2007 I wrote about the risks in the market for credit default swaps, a type of financial instrument that basically serves as insurance against bond default. The crux of the article was that some of the insurers in question might not be able to pay when the time came, and that would be trouble.Almost exactly a year later, in January of this year, I wrote that the Fed’s bailout of investment bank Bear Stearns may have been intended to prevent exactly that type [...]
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[Source: The Money Blogs]
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