I really hate these articles that carry on a discussion about an anagram (CDS) without EVER TELLING US WHAT IT MEANS.
CDS = Credit Default Swaps
CDS= credit default swaps
What brought down AIG and what got Goldman Sachs 10 billion free dollars when Goldman’s whore Tim Guithner bailed them out. Goldman Sachs has more whore in the 0bama regime than just Geithner and they infiltrated GWBush’s administration too with Paulson and others
CDS is an insurance contract that one Bankster or Wall St wise guy buys from another to insure that a dicey security (bond maybe) he just bought will not default or go into semi-default. With that CDS contract in hand the bond holder will demand the CDS issuer to make him whole. To rebuild the house that burned down or the part of the house that burned down
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It’s a posting from a blog, not a news source, and bloggers usually aren’t very good writers (i.e., who, what, when, where, etc).
It’s the OP’s fault for not taking the extra step to clarify WTF is being discussed. I was thinking Certificates of Deposit (pluralized) at first until I read well into the article).
You are absolutely right. And the OP can take a lesson about clarity of communication.
BTW, OP = Original Poster.
WTF = What The Flock
BTW = By The Way
:-)