Redit-Default Swaps and the Fate of AIG

Credit-Default Swaps and the Fate of AIG
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Using and citing a variety of sources, describe the nature of credit/default swaps and how these derivatives affected AIG, precipitating a global financial crisis. Discuss the moral risks, if any, the use of credit/default swaps pose to the global and national economy. Where feasible, make use of your textual readings. But in any case cite all sources used. This essay will have three parts. Definition, un/justified, argument