Credit Default Swaps and Main Street

Being blamed for such things as the 2008 financial crisis, exacerbating the Greek credit crisis, and the culprit behind the recently reported $2 billion JPMorgan Chase & Co. (NYSE:JPM)  loss hasn’t helped credit default swaps (CDS) in gaining good respect (my guess is that there’s a lot of respect out of fear).  Although, at times, it may be true that CDS can be viewed – probably incorrectly – as weapons of mass destruction, this article addresses the question: Besides the obvious benefit to risk, money, and speculative mangers, are CDS beneficial to Main Street and the economy? The question matters in that…