Risks to the system

CDS guide: conclusion


This guide has focused exclusively on the evolution, structures and benefits of the market for credit default swaps – of which there are clearly plenty. As with any relatively new product, however, widespread concern has been expressed about the broad credit derivatives market, and those concerns appear to be mounting rather than receding, with Warren Buffet, for one, famously describing derivatives as financial weapons of mass destruction in March 2003.

Most market analysts attributed

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