Widening spreads in the credit default swap market indicate heightened concern about default.

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More worrisome is the potential for that action to trigger a real problems in the credit default swap market, causing true chaos.

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Cuomo has opened a number of investigations into Wall Street, including the auction-rate probes, which continue, as well as activities in the credit default swap market and other signs of alleged fraud.

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During the financial crisis, the credit default swap (CDS) market, a part of the OTC derivatives market, took center stage as difficulties in financial markets began to intensify and the counterparty risk involved in a largely bilaterally cleared market became apparent.

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He decided to short the mortgage market, using a financial tool known as the credit-default swap, or C.

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