Credit Default Swap: What It Is and How It Works
A credit default swap is insurance against the possibility of default. Learn about their role in the financial crisis of 2007 ...
PBS12y
Credit Default Swaps
So I want to get into that in a second, but let's go back and explain the Exxon deal, for instance, how that worked, how it functioned. What was the utility of the credit default swap in that case?