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Providing Protection Over Own Assets with CDS

Is it possible for a company to sell protection on their own assets or own country bonds by CDS? The company can buy protection on these assets, but how about selling? I suppose it can not sell,because when company defaults,it cannot also meet the obligation on CDS.  Is there any paper, writing about the subject?

Thanks.

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They probably can, but, as you point out, it’d likely be stupid.  Furthermore, where’s their market?  Would you pay for insurance from such a company?  That’d be even stupider.

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