Except for creating the situation that made them viable and worth doing.The goverment can't see into the future. How is the government supposed to know what companies are doing behind the scenes? What schemes they're concocting? Credit default options is one of those schemes.Sorry...but in this case, Wall Street abused the free enterprise system. Now government is responding with a vengeance and making Wall Street miserable with the Dodd-Frank Act--2,900 pages of gobbledegook that's being rolled out piece by piece, all of it oppressive and inflexible.Paybacks are hell, oh crooks of Wall Street.
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