[2015-09-15]CCN-$1.87 BILLION CREDIT DEFAULT SWAPS SETTLEMENT STRENGTHENS NEED..

[tolikkk]

$1.87 BILLION CREDIT DEFAULT SWAPS SETTLEMENT STRENGTHENS NEED FOR BLOCK CHAIN TRANSPARENCY
Credit those who are trying to bring the transparency and security of the block chain to the chaotic financial markets. They recognize the need for a reliable mechanism to prevent the type of disaster visited upon the credit default swaps (CDS) market this past weekend. A cadre of financial institutions agreed in principle to a $1.87 billion settlement for allegedly conspiring to muzzle competition in the CDS market.

The complete story behind this record settlement could take years to unravel. U.S. and European regulators are still investigating. In the meantime, the growing chorus of block chain advocates in the financial community has further reason to question the status quo while the lawyers rake it in. CDSs, a market pegged at $16 trillion in late 2014, hedge against borrower default.

https://www.cryptocoinsnews.com/1-87-billion-credit-default-swaps-settlement-strengthens-need-block-chain-transparency/

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[1715193210]

1715193210

[BitDreams]

People underestimate the value bitcoin will add to society. Where we read about 1.87 billion dollars in fines, there's the theft that doesn't get caught that keeps these behaviors profitable - the crime is worth the time. Until bitcoin.