CSPAN2 Book TV After Words September 8, 2009
so what i find a little troubling is as lehman brothers but informed lehman ateast i raise the question yes it's very cleacredit to default swaps and other derivatives provide a valuableervice and drayed risk and allowing things to happen, t is the benefit of that really gater than the potential catastrophes or cost that come from having the risk spread out in some places of the knows what is going on and you have a more opaque system. covered but we obviously weren't in this last crisis and the result was greater risk because it ended up being just as concentrated as people had fear...
Source: archive.org