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The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™
Who, why, which or what are credit default swaps (aka a CDSs)?
- “Financial weapons of mass destruction” © Warren Buffett.
- “Credit risk mitigation techniques that fit into the Standardised Model of Credit Risk under the Basel II framework.” © Basel Committee on Banking Supervision.
- “Not insurance contracts” © Robin Potts QC.
Well, the world don’t move to the beat of just one drum, as Gary Coleman taught us.
- Credibility derivatives
- Narrowly-traded credit events
- Financial weapons of mass destruction
- FWMD Top Trumps