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From Financial Crisis to Global Recovery$
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Padma Desai

Print publication date: 2011

Print ISBN-13: 9780231157865

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231157865.001.0001

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Hedge Funds and Derivatives, Credit Default Swaps, and Rating Agencies

Hedge Funds and Derivatives, Credit Default Swaps, and Rating Agencies

Chapter:
(p.110) 5 Hedge Funds and Derivatives, Credit Default Swaps, and Rating Agencies
Source:
From Financial Crisis to Global Recovery
Author(s):

Padma Desai

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231157865.003.0005

This chapter explores various financial instruments and activities. These include hedge funds, derivatives, and credit default swaps. A hedge fund is a legally restricted investment vehicle maneuvered by managers in an attempt to dodge fluctuations in currencies, interest rates, and commodity prices, using over-the-counter derivatives and credit default swaps. Derivatives, while transacted over-the-counter, permit the buying and selling of currencies and stocks, commodities, and securities in private deals rather than openly on a stock exchange. Credit default swaps, as these resemble derivatives, are known for their destabilizing features. Amidst these transactions, rating agencies are tasked with evaluating financial instruments involved in the trade.

Keywords:   hedge funds, derivatives, credit default swaps, rating agencies, over-the-counter derivatives

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