More bad news for all Soros/Tudor/Paulson-wannabes. If this actually goes through, traders are going to be so fucking pissed off.
What are your thoughts about this issue?
Article: EU hopes for deal on short-selling, CDS curbs Link: http://www.reuters.com/article/2011/10/18/eu-shor…
I support anything which makes Europe less transparent and competitive.
You can either fix the problem or try and force others to ignore it. I see Europe is choosing to stick their head in the sand.
Europe needs to face these problems sooner rather than later, or the day it declares a full-blown crisis will be catastrophic
I give it a few weeks before GS and MS call for the same thing on their own debt.
http://finance.yahoo.com/news/Fitch-BofA-Spreads-Come-Out-bw-936426508.html?x=0
Ignoring the other aspects of CDS products I might take issue with, this is retarded. This is a tactic to push off blame to the private sector. Like cited in the article, the CDS market helps bring clarity to credit risk associated with the insured target. The only affect they have - ignoring stuff like execution - is acting as a barometer to risk. How is that a bad thing? Yes, lets make information even more asymmetric! That makes a lot of sense.....
These measures really are a stall tactic to boot. Its ridiculous that they are using this to delay either fixing the underlying issues or allowing the inevitable to happen. A ban on short-selling is like saying you aren't allowed to have a contradicting opinion on the matter. Don't think that thought!
The severity of politicians ignorance to market dynamics and the pricing of information makes me want to revisit dreams of punching Jim Bunnings in the face.
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