Political Quotes

Joe Morelle: CDSs are, in fact, a species of insurance, and naked swaps are more akin to gaming than insurance since they lack…

On the recordFebruary 2, 2009
CDSs are, in fact, a species of insurance, and naked swaps are more akin to gaming than insurance since they lack insurable interest.
Said by
Joe Morelle
Democratic · New York

Editor's note · Context

Morelle defines credit default swaps and distinguishes them from traditional insurance.

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