CREDIT DEFAULT SWAPS

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.