One Year Later
Credit Default Swaps: Bad Enough to Ban?
"Literally 85% of the information that's out there, whether it's in [The Wall Street Journal] or on TV or in the Senate hearings, it's just flat out wrong," the trader says.
He may be right, but it's hard to sympathize with him. Wall Street is a secretive place, as evidenced by his refusal to speak on the record. When 60 Minutes did a report on credit default swaps earlier this month, it was also turned down for interview requests by all the major investment banks. Wall Street didn't want anyone to understand this business, and now it may be too late. The economy is in shambles, the Democrats are in charge, and patience is thin.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,427.01 | 1,313.32 | 2,835.87 | 16.00 |
Oil *
103.37
|
|
UP
7.15 |
DOWN
19.10 |
DOWN
1.49 |
DOWN
0.25 |
10 Yr
1.60%
SPDR Gold
151.91
|
|
+0.06%
|
-1.43%
|
-0.05%
|
-1.54%
|
Data delayed 20 minutes |
Connect with TheStreet