re: #326 Kenneth

No, I don’t believe we will ever hear that kind of honesty from our politicians,

O.K….please help out here….

I thought Credit Default Swaps were essentially insurance issued largely by AIG to cover the not-easily-quantifiable risk inherent in mortgage backed securities that were purchased from the likes of Fannie Mae and Freddie Mac.

Am I completely confused? or is there some semblance of correctness to that?