Reply #6: I happily refer you to Michael Masters testimony (link already given) a Hedge fund manager for a [View All]

[JohnWxy]

more complete discussion. You may have been asleep the last several months but Credit Default Swaps have been recognized by all those not in a coma, as central to the credit catastrophe. OF course, Republicans (NOT that YOU are one of them) will have some other way of explaining it (of obfuscating the issue), but that's to be expected - it was their philosophy (or I should say their lobbyist controllers philosophy) that brought about this disaster.