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Credit Default Swaps: The Next Crisis?
This March 2008 article discusses the possibility of financial crises involving credit default swaps (CDS), "insurance-like contracts that promise to cover losses on certain securities in the event of a default." Discusses history of CDS and the "potentially even wider ramifications nationwide than the subprime crisis" resulting from a meltdown in the CDS market. From Time magazine.
http://www.time.com/time/business/article/0,8599,1723152,00.html
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