Art Cashin says buzz is building on trading floors that the "real risk" if Greece actually...

|By:, SA News Editor

Art Cashin says buzz is building on trading floors that the "real risk" if Greece actually defaults is credit default swaps: "Traders fear a worse outcome [than 2008] might occur if the CDS contracts do not kick in. What good is insurance that doesn’t pay off. That could lead to the assumption that all CDS insurance was useless. That would stratify debt around the globe."