A pretty fair investment for anyone who stuck with the trade - at 2008's start, it cost just...

|By:, SA News Editor

A pretty fair investment for anyone who stuck with the trade - at 2008's start, it cost just $22K annually to insure against default on $10M of Greek debt. The same protection today costs $7.6M. The total notional value of CDS outstanding is about $70B, but the net amount is pegged at just $3.2B. For comparison, the net amount for Lehman in 2008 was $5.2B.