This weekend I posted a video of a "whiteboard" talk by Paddy Hirsch of Marketplace, in which he explains CDOs and the credit crisis. Here's another one where he explains Credit Default Swaps (CDS) using the analogy of an arctic expedition. Since I'm teaching Fixed Income next year, I' ... Read more
Credit default swaps have been a major element in the ongoing financial crisis. That doesn't mean it's necessarily easy to understand just what the problem is with them. I've taken a crack at it in the past, but more recently I heard an analogy that makes the entire situation a lot easier to ... Read more