Can we flush CDS contracts already?
Today on Fool.com I took on credit default swaps. I seems to me that the whole thing is little more than a big game of musical chairs, passing risk around and just hoping not to get caught in the cold when the music stops. And while it could be argued that it does spread out risk, I think its also up for question whether it actually creates more risk in the end.
Anyone care to cheer me on? Or tell me why I'm wrong?