Quote by: James Chanos

And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It's the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it's destabilizing because everyone is selling.

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Author Bio

  • NameJames Chanos
  • DescriptionAmerican businessman
  • Born1958