Gambler’s fallacy

Banks’ oblique attitude to risk transfer is damaging to the over-the-counter industry

Apr 18, 2012

Purchasing derivatives has long been associated with gambling. Since the financial crisis, news editors have used images of casino activity to illustrate the associated risks. The almost farcical confusion of trying to pinpoint the exact triggering point for credit default swaps referencing Greek debt certainly has done little to sway this opinion.

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