QOTD: Immelt on CDS -- “Most Easily Manipulated”

By Paul Kedrosky · Tuesday, March 10, 2009 ·

“[Investors can force substantial price moves] by spending 25 million bucks in a handful of transactions in an unregulated market. I just don’t think we should treat credit default swaps as like the Delphic Oracle of any kind. It’s the most easily manipulated and broadly manipulated market that there is.”
   - GE’s Jeff Immelt (Bloomberg)