Chibimagic's Weblog

Credit default swap = banksex

Posted on: October 7, 2008

I’m listening to NPR’s new episode of “This American Life” about the economy. It’s teaching me that credit default swaps are like banksex. When you buy and sell insurance this way, you’re buying and selling with every risky institution that bank has dealt with. When you have sex with someone, you’re having sex with everyone they’ve ever had sex with.

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