I pointed out in a column earlier this week that the cost of insuring the US government against default in the credit derivatives markets is now higher than for many leading companies. More specifically, data from Markit shows that no less than 70 US corporate names at present command lower credit default swap spreads than the sovereign contract (currently running at 50 basis points.) A few years ago, there were none.
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Thi kendes for ret, også magtfulde bankdirektører har et personligt ansvar for, at bankkreditter vurderes ordentligt. Højesterets dom i Roskilde Bank-sagen mejsler i granit, at “business judgement rules” ikke er et fripas for bankledelser. Afgørende, principiel dom, også for nutidens bankhåndværk, skriver FinansWatch’ Jens Chr. Hansen i denne analyse.