And that is say just like stocks back to pre the Great Depression, a lot of stocks were not traded over an exchange. They were traded over the counter where nobody knew what the pricing was, didn't have any information. If you would have forced every CDS contract within two years to be traded over an exchange... you would have just shrank in massively. cash collateral and the party that was buying the insurance had to own the underlying bond. I could write that in two pages. Guess what would have happened Whop you would have just shrank in massively. (19:34–20:04)
CLAIM
Asserts that trading CDS contracts over an exchange would have significantly reduced the market size.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
