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Reuters Breakingviews: Credit Derivatives That Distort Markets

nytimes.com
Dec. 20, 2009
It is tough for holders of credit-default swaps to profiteer on defaults. But disclosure of which creditors are hedged with credit-default swaps is advisable before restructuring discussions begin.
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Lori Anne Madison, 6, competes in Scripps National Spelling Bee
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Lori Anne Madison, 6, of Woodbridge, Virginia, spells out the letters in her word as she competes during the opening round of the Scripps National Spelling Bee, May 30, 2012, in National Harbor, Maryland. Madison, the youngest known qualifier in the history of the contest, correctly spelled the word "dirigible*", a lighter-than-air aircraft, to advance. UPI/Mike Theiler