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wallstreetoasis
💡 Ever heard of credit default swaps? Most people have not, but they played a major role in the global financial system. 🏠 Imagine a homeowner buying a house using a mortgage from a bank. Every month, the homeowner pays the bank principal and interest. 🏦 But the bank worries. What if the borrower loses their job and stops paying the mortgage? The bank could lose a lot of money. 🛡️ To reduce that risk, a large financial institution might sell the bank a credit default swap. This works like i...
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