SNS Reaal

  • Lions Gate, Mycenae. Have we done this one before? Running out of Greek sites that I've been to that aren't just, like, holes in the ground.


    CDS Market Almost Ready For Another Greek Default

    Last week ISDA, who are in charge of credit default swaps, circulated some proposed changes to CDS to account for all the Greek, Argentine, SNS, everything unpleasantness. This prompted me to try out my one journalistic technique – calling1 ISDA and asking them to send me a copy – but they declined, so we’ll just […]

    / Mar 11, 2013 at 4:15 PM
  • News

    CDS Contracts Not Ready For The Ways We Go Bankrupt Now

    CDS, what is wrong with you? Here is how CDS should work: There are bonds. You buy CDS that is supposed to pay off if something goes wrong with the bonds. Something goes wrong with the bonds, insofar as they default. Like so: So you scoop up a Defaulted Bond, hand it to the CDS […]

    / Feb 11, 2013 at 3:01 PM

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