Mailbag: Live Nude Credit Default Swaps

The ever-astute Kelli B. has posed a question regarding the series on commodities trading, which I shall attempt to answer! “Revelation for the day: credit default swaps are private contracts between two firms. O_O That explains so much about why attempts to mitigate the public collateral damage when volatility blows sky-high are usually impotent from the get-go: […]