Credit-Default Swaps Ban Backed By The European Commission

First Posted: 05/10/10 06:12 AM ET Updated: 05/25/11 04:45 PM ET

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Financial Reform , Obama Administration , European Commission , Greece Debt , Sovereign Debt Crisis , Cds , Credit Default Swaps , Derivatives , Euro , Finanical Regulation , Gary Gensler , Business News

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washingtonpost.com:

Europe moved ahead of the United States on Tuesday in advocating new measures to ban certain types of financial speculation after concerns surfaced that traders used complex financial instruments to push Greece deeper into a fiscal crisis and threaten the European economy.

Read the whole story: washingtonpost.com

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Credit default swaps are not insurance. If you buy fire insurance on your home, you must own the house. If you buy credit protection on the United States, however, you do not need to own U.S. Treasury bonds.

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