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| ZeroHedge |
Sep 1, 2011
Banks Under Pressure
This chart shows that Credit Default Swaps (financial security that insures against default of the underlying subject: in this case banks) have risen dramatically in August. This means that the market perceives the risk of these banks to default has increased. According to this article by the Telegraph these credit default rates are even higher than in the credit crisis of 2008.
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Anyone out there who believes they were sold a Bank Swaps product should act, by seeking a legal advice to see if they can make a claim for compensation against the bank.
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