Naked Credit Default Swaps Need To Be Banned: Wolfgang Munchau

05/01/2010 05:12 am ET | Updated May 25, 2011
  • Wolfgang Munchau

I generally do not like to propose bans. But I cannot understand why we are still allowing the trade in credit default swaps without ownership of the underlying securities. Especially in the eurozone, currently subject to a series of speculative attacks, a generalised ban on so-called naked CDSs should be a no-brainer.

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