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And the credit default
swap is basically a kind of an insurance contract, which basically says, "If
some assets in the markets "decline in value, the
insurer has to pay me a fee." And the beauty of the CDS,
the credit default swap, was that you didn't have
to hold the asset yourself
swap is basically a kind of an insurance contract, which basically says, "If
some assets in the markets "decline in value, the
insurer has to pay me a fee." And the beauty of the CDS,
the credit default swap, was that you didn't have
to hold the asset yourself
Full Transcript
00:00:01.000 --> 00:00:03.335
And the credit default
swap is basically
00:00:03.335 --> 00:00:06.271
a kind of an insurance contract,
00:00:06.271 --> 00:00:09.441
which basically says, "If
some assets in the markets
00:00:09.441 --> 00:00:13.745
"decline in value, the
insurer has to pay me a fee."
00:00:13.745 --> 00:00:16.848
And the beauty of the CDS,
the credit default swap,
00:00:16.848 --> 00:00:20.819
was that you didn't have
to hold the asset yourself.
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Movie Summary
Former NATO commander Wesley Clark and son explore economic forces linking various sectors, revealing interconnections that can lead to collapse and potential solutions to untangle them.
