CDS: Insurers Pay Only When the Bond Is ‘All Dead’

By Rebecca Wilder on March 12, 2012   CDS, Debt Crisis, Euro area, Europe, Finance & Markets  

The saga that is the Greek CDS trigger – a credit event being ruled only after CACs were inserted retroactively and then used by the Greek government to force the debt swap – made me think of a classic scene in the Princess Bride. Watch the YouTube clip of Billy Crystal as Miracle Max, who famously […]