Credit Default Swaps: Latest Data

by: Paul Kedrosky November 17, 2008 | about stocks: BAC / C / CNI / CNP / ELE / LUV / MRO / RTP / SHW / SNE / SPF / T / WEN / WLP    
Paul Kedrosky

Paul Kedrosky

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I spent time over the weekend poring over the latest DTCC weekly credit default swap data release. I compared the current release with the prior week in terms of notional, net, and total contracts. The following table summarizes the top dozen entities in terms of increases and decreases in percentage terms in the number of outstanding CDS contracts. (The list is filtered down to those with at least 1,000 pre-existing outstanding contracts.)

cds-contracts

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This article has 5 comments:

  •  
    Nov 17 12:24 PM
    so a "credit defautl swap" as I understand it is the car you run your neighbor over with after setting his house on fire, by selling it short, is that correct?
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  •  
    Nov 17 03:12 PM
    Why can't the government simply kill these CDS contracts by making them illegal instruments?? Eliminating all existing contracts would free up credit in an enormous way and as such the economy worldwide would start to pick up and recover from this disaster. Some individuals are reaping billions from these ridiculous contracts while millions of people are losing their jobs and many millions more are forced to alter their retirement plans significantly. It is just not right and I can't understand why there is not a bigger public outcry to just get rid of these unregulated time bombs.
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  •  
    Nov 17 04:57 PM
    Because Johnny K, those profiting or shielding themselves from loss are those that run our government and have positions into these companies. You could say they are heavily biased. It's not right but pain will force true change in leadership. Up until very recently, the pain has been all J6Packs. Again, not right just stating reality. J6Pack are the pillars that support the platform of government and Wall St. The pillars have collapsed so those on the capsizing platform are now "concerned".
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  •  
    Nov 18 08:35 AM
    How many of the Hedge Funds that work the CDS market are funded by the wealthy churches who are getting Tax Payer Funds from Bush ????????
    Reply | Link to Comment
  •  
    Nov 18 08:45 AM
    in order to avoid regulation as insurance which they are, these time bombs were called something else in order to wiggle out of compliance with sound business practice.
    > jack
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