Purchasing CDS contracts is like buying insurance on someone else’s life and owning a license to kill him. It is the job of regulators to ensure that no one is ever granted such a license.
购买CDS合同行为就如同给他人买了保险后，还拥有可以杀死他的执照。显然，这就需要监管者来保证没有人可以拥有这样的执照。