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Sean Snaith

Experts says Kendrick Meek is wrong to blame Jeff Greene for making investments in credit default swaps

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The Tampa Tribune examines Jeff Greene’s decision to purchase credit default swaps: A CDS is a way of hedging a bet on an investment such as a loan or a purchase of securities. In effect, it’s an insurance policy that pays off if the borrower fails to repay, or if the securities default. Greene’s innovation was to buy CDS’s on securities he didn’t own, making them “uncovered” or “naked” CDS’s – insurance policies on investments actually owned by others. Sensing…

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