In Maxine Waters' most recent step towards her Holy Grail of legislating Goldman out of existence, everyone's favorite Representative from the IOU state wants CDS banned for good. Drawing on her many years of experience as a derivatives guru, Mad Max now thinks that financial stability can only be achieved by putting the kibosh on credit default swaps.
Credit-default swaps are one of many contributing factors to the current economic crisis. Preventing all credit-default swaps is essential to bringing stability to the market and preventing a similar crisis in the future.
If only she believed that preventing the financially illiterate from proposing derivatives legislation was essential to bringing stability to the market and preventing a similar crisis in the future.