I just stuck a few grand with JP morgan and then read this statement at the bottom of the page here ; http://workforall.net/CDS-Major-Banks-credit-default-swaps.html#Credit_Default_Swaps_youtube
JPMorgan is generally credited with inventing the 5Y CDS in 1997 as a way to protect itself against tens of billions of dollars in loans that it had accumulated. The idea seemed simple enough: A third party blah blah blah
It has been stated that JPM is cactus but I find it hard to believe . Gotta do some more research on these cds things .
