BANKS: "I KNOW SOMETHING YOU DON'T....

and that's why I can charge you a higher price!" OR "free markets for me but not for thee." Investment banks make a killing selling credit default swaps because there isn't a public market, so only they know what the real costs of a CDS, not their customers. As a result, they can charge higher margins.

The Obama Administration is planning to make the CDS market a public exchange and the banksters don't like that.