Yesha Yadav

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Caesars Entertainment argues the credit default swap market is giving at least one holder of its debt a perverse incentive to seek its default. Shutterstock

Bogeyman of credit crisis needs reform to align risks and responsibilities in CDS market

Yesha Yadav, Vanderbilt University

In 2009, US trucking company YRC Worldwide faced ruin as it struggled to restructure its debt. With tens of thousands of jobs at stake, the Teamsters union, led by James Hoffa, accused some YRC bondholders…

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