CREDIT DEFAULT SWAPS

Early day motion 2228, tabled 13 October 2008 by Harry Cohen (Labour). Signed by 15 members.

That this House notes that credit default swaps invariably involve an incentive for an institution to fail; notes that those taking out the insurance are speculators having little or no ownership of the institution targeted; further notes that this practice is frequently described as a bet; is concerned that some parts of the UK finance sector could still be at risk from this practice; and calls for this practice to be treated in UK law in the same way as a bet that is void.

Signatures by party: Labour 13, Independent 1, Social Democratic and Labour Party 1.