US, NY to investigage credit default swaps market
Interestingly, many are blaming the CDS market for the Wall Street meltdown. The Bush administration claimed the taxpayer needed to purchase "toxic" mortgage assets to save these financial companies. It may be that rumors helped cause a collapse in credit default swaps used to insure banks against mortgage defaults. When these swaps failed, the mortgage-related securities also failed.
US, Cuomo Open Credit Default Swap Investigation (Update1)
1 hour ago
Cuomo has been investigating whether credit-default swaps were manipulated by short sellers to spread false rumors about financial companies. ...
US, NY Probing Credit-Default Swaps
Wall Street Journal
US probing credit-default swap market
International Herald Tribune
Joint US-New York Inquiry Into Credit-Default Swaps
New York Times