On his web log, Derivative Dribble, Charles Davi has created an eloquent, yet simple, explanation of credit default swaps for those of us who are not financial engineers. In his piece, "Systematic Counterparty Confusion: Credit Default Swaps Demystified," Davi dispenses with the hype about the esoteric complexity of these transactions to explain how they are "common and straightforward."
The piece is available at: http://derivativedribble.wordpress.com/2008/10/23/systemic-counterparty-confusion-credit-default-swaps-demystified/
The piece is available at: http://derivativedribble.wordpress.com/2008/10/23/systemic-counterparty-confusion-credit-default-swaps-demystified/
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