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Wall Streets Worst Invention: Credit Default Swaps Take
the Cake

post from Jutia Group on 04 March 2009 12:43:18 PM. © Jutia Group

When it comes to naming a winner in the competition for “the worst product ever invented by Wall Street,” there is quite a list of worthy candidates. With just the current financial crisis alone there are such “inventions” as subprime mortgages, auction rate preferred stock and asset-backed commercial paper, which all…



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