Credit Default Swaps
From TeeVeePedia, the Internet TV Encyclopedia.
Credit Default Swaps are financial instruments originally developed by Jim Cramer for his CNBC show Mad Men. Credit Default Swaps are incredibly complex, to the point where no human could possibly understand them. Instead, they are organized and traded entirely by supercomputers.
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Role of Credit Default Swaps in The Panic of 2008
Since nobody understands what Credit Default Swaps are, their role in The Panic of 2008 is unknown. It can reasonably be assumed to be quite large, however.
