COLLEGE PARK, M{-d}. It never ceases to amaze me how political leaders can shamelessly blame free markets and faceless speculators for the consequences of their lousy financial decisions. Front and center is Greek Prime Minister George Papandreou blaming trading in derivatives for bringing down the house of cards that is Greece's national finances. Credit-default swaps are contracts that bondholders buy from large institutions, smaller funds or even individuals to obtain payment if interest or...
Full Story: The Providence Journal
