CDS受审

芝加哥­——
美国证券交易委员会发起对于高盛公司涉嫌欺诈的起诉,指控高盛在一项债券抵押证券(CDO)交易中有歪曲其构成的行为,这使得公众对于信用违约互换(CDS)更加反感,CDS是用于对冲CDO的金融工具。在2008年的金融危机之前,信用违约互换(CDS)对于大多数人来说是一种神秘的金融产品,只有一小部分资深投资者和学术研究人员才知晓。如今,这一名字变得家喻户晓,而且和疯狂的投机,无限制的贪婪甚至系统性不稳定成为同等的贬义词。

的确,CDS产品被指责为金融危机爆发的主要原因。而高盛上述行为的合法性也将被法院裁决,但CDS在公众中糟糕的名声已经威胁到其自身的生存问题。

迎合着民粹主义的浪潮,数位政治家开始呼吁取缔CDS。最近的希腊危机进一步巩固了反CDS的阵营。毕竟,正是希腊政府在CDS市场几近违约的情况使得政府雇员不得不接受大幅降薪,把节省出来的资金补偿贪婪投机者的疯狂行为。

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