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