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Credit Default Swaps and the Financial Crisis  


Author:  Richard R. Lindsey.


Source: Volume 22, Number 03, January/February 2009 , pp.36-40(5)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

Counterparty risk has increased simultaneously for all counterparties, an event that even if it had been modeled by risk managers would have been viewed as a very low probability. While it is not a board’s responsibility to know and understand every single trade, each board member must understand the firm’s business lines and the use (and misuse) of derivatives.

Keywords: Financial Derivatives; Market Efficiency; Systemic Risk and Regulation

Affiliations:  1: Callcott Group LLC.

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