A scruffy-looking Occupy Wall Street protester takes out a big black magic marker and writes on a tattered piece of cardboard: “Ban ‘Naked’ Credit Default Swaps.” Others hold signs calling for an end to “mortgage-backed securities” and “self-settled asset protection trusts.”
These demonstrations have a different, and more sophisticated, message than any we’ve seen before. “Hey, Hey, Ho, Ho — Interest Rate Swap Contracts Have Got To Go!”
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