Credit Default Swap Quotes

When the Goldman Sachs saleswoman called Mike Burry and told him that her firm would be happy to sell him credit default swaps in $100 million chunks, Burry guessed, rightly, that Goldman wasn't ultimately on the other side of his bets. Goldman would never be so stupid as to make huge naked bets that millions of insolvent Americans would repay their home loans. He didn't know who, or why, or how much, but he knew that some giant corporate entity with a triple-A rating was out there selling credit default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. ~ Michael Lewis

Credit default swap is basically just an agreement that I have with you, where I sell you insurance on some bond you own. If the bond goes belly up, I promise to pay you. And as long as the bond doesn't go belly up, you pay me for selling you insurance. ~ Charles Duhigg

How do you explain to an innocent citizen of the free world the importance of a credit default swap on a double-A tranche of a subprime-backed collateralized debt obligation? He tried, but his English in-laws just looked at him strangely. They understood that someone else had just lost a great deal of money and Ben had just made a great deal of money, but never got much past that. "I can't really talk to them about it," he says. "They're English. ~ Michael Lewis

Credit default swap gives you something to do. You can buy some credit default swaps from them to protect yourself against the bankruptcy of people who owe you money. ~ Robert F. Engle

As the financial experts all over the world use machines to unwind Gordian knots of financial arrangements so complex that only machines can make - 'derive' - and trade them, we have to wonder: Are we living in a bad sci-fi movie? Is the Matrix made of credit default swaps? ~ Richard Dooling

If you pay attention to where your exposures are, you might tend up buying credit default swaps against a variety of people that you - companies that you deal with. ~ Robert F. Engle

A credit default swap was confusing mainly because it wasn't really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term. For instance, you might pay $200,000 a year to buy a ten-year credit default swap on $100 million in General Electric bonds. The most you could lose was $2 million: $200,000 a year for ten years. The most you could make was $100 million, if General Electric defaulted on its debt any time in the next ten years and bondholders recovered nothing. It was a zero-sum bet: If you made $100 million, the guy who had sold you the credit default swap lost $100 million. It was also an asymmetric bet, like laying down money on a number in roulette. The most you could lose were the chips you put on the table; but if your number came up you made thirty, forty, even fifty times your money. ~ Michael Lewis

I was able to use credit default swaps to protect not only my investments but the hundreds of jobs that exist because of my investment. I understand the dangers of credit default swaps and the benefits of credit default swaps. ~ Jeff Greene

Depending on the contemporary mood, Orwell oscillates from Saint George to George the Seer to George the Sage. What other thinker has been both so fervidly claimed and derided by both the left and right? Who else except Kafka do we credit with having seen the sinister future? When the NSA spying scandal broke in June, Amazon sales of Orwell's Nineteen Eighty-Four vaulted more than 6000 percent. The connection of Big Brother with the NSA might have been hysterical and spurious, but it was also testament to our sentimental, kneejerk affection for Orwell, to the fact that he remains the default scribe whenever our paranoia is fondled by the ominous machinations of realpolitik. The utter clarity and goodness of his intellect seem something of a miracle when one considers how many of his fellow writers botched the most pressing moral and political tests of their time. He could smell bullshit and blood a continent away: When a passel of leftist intellectuals was hailing the Soviet Union as humankind's only hope, Orwell was persistent in pointing out that Stalin was a monocratic lunatic. ~ William Giraldi

If you default on your Visa bill, nobody comes to repossess your refrigerator or auction off your shoes. The biggest penalty you'll face is trouble getting future credit. ~ Virginia Postrel

I mean, we've always had gold bugs, but now we sort of realize that Treasure Bills might be in the same category. And we have derivatives like credit default swaps which are in this category, and we have derivatives like volatilities that are actually an asset class that we can invest in which are now - would out perform if we have another financial crisis. ~ Robert F. Engle

Countries are not like financial markets. Social change cannot be executed as swiftly as credit-default swaps. You cannot sell short on social commitments and practical responsibilities. ~ George Papandreou

The money has to be deferred with what they call "clawback," which means they can get it back if I lose it all. So that guy making ten million a year selling credit default swaps, if we're going to keep five million of it in escrow for ten years, and with the right to go back and get it, if he starts losing money, then we're going to give people the right incentives not too take so much risk. ~ Richard Thaler

They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, It's really hard to know when you're lucky and when you're smart. ~ Michael Lewis

Credit-default swaps, I think, have serious problems associated with them. ~ Alan Greenspan

So what is the role that credit default swaps can play in an economy? Well my feeling is that if these things actually will now be traded on either exchanges or some kind of central clearing, they are going to be a very good measure of the credit worthiness of different companies. ~ Robert F. Engle

Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant. ~ Suze Orman

As demand for cotton grew, slavery was considered indispensable as a means of maximizing profit for this labor-intensive staple crop. Equally important, as we shall see, slaves could be financed - that is, purchased on credit. In financial parlance this is called leverage. Planters had one objective: increased cotton production. Arguments about the optimum size of a cotton farm are irrelevant because of slavery's financing characteristic. Simply put, the goal was more cotton, which called for financing the purchase of more land and more slaves. Because a mechanical means of solving cotton's production needs did not exist until the mid-twentieth century, cotton demanded an endless supply of black bodies as long as the price of cotton permitted financing. The Northerner Frederick Law Olmsted, ~ Gene Dattel

I'm really not quite as frippery a fellow as you seem to think! I own that in my grasstime I committed a great many follies and extravagances, but, believe me, I've long since out-grown them! I don't think they were any worse than what nine out of ten youngsters commit, but unfortunately I achieved, through certain circumstances, a notoriety which most young men escape. I was born with a natural aptitude for the sporting pursuits you regard with so much distrust, and I inherited, at far too early an age, a fortune which not only enabled me to indulge my tastes in the most expensive manner imaginable, but which made me an object of such interest that everything I did was noted, and talked of. That's heady stuff for greenhorns, you know! There was a time when I gave the gossips plenty to talk about. But do give me credit for having seen the error of my ways! ~ Georgette Heyer

I must never equate the degree of pain as evidencing the incorrectness of a decision, for if I do I will default on some of the most critical decisions I should have ever made. ~ Craig D. Lounsbrough

It's a sign of weakness to feel stuff, in prison. To care. To admit you're lonely, or sad, or that you're aching for somebody. Writing to you was the only time I got to get that stuff out of me. I just wrote down whatever needed to come out."
"I think you may be the most romantic man I've ever met."
"Give yourself some credit. I don't write letters like that to just anybody. ~ Cara McKenna

Is it a coincidence that success follows those who hand out its credit to their parents or teachers. Ironically, the converse is true as well. ~ Sandeep Sahajpal

The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards. ~ Edward Snowden

Average household credit card debt topped the landmark of $10,000 in 2006, a hundredfold increase over the average consumer debt in the 1960s. One consequence: Much of the material buried in landfills in recent years was bought with those same credit cards, leading to the quintessentially American practice of consumers continuing to pay, sometimes for years, for purchases after they become trash. ~ Edward Humes

A lot of times when you keep it real with somebody, you can't expect them to keep it real with you. ~ Gucci Mane

I know I chatter on far too much ... but if you only knew how many things I want to say and don't. Give me SOME credit. ~ L.M. Montgomery

I think by default I wanted to be an actor because, on a movie set as a little kid, the only thing that you can do is be an actor. And I was really enthralled by the whole process. ~ Kristen Stewart

Sure, Lena gets the credit for being the most powerful Caster of all time. Whatever. It doesn't make me any less excellent. Neither does her too-good-to-be-true Mortal boyfriend, Ethan "the Wayward" Wate, who defeats Darkness in the name of true love every day of the week. ~ Kami Garcia

As you know, in the latter part of 2008 and early 2009, the Federal Reserve took extraordinary steps to provide liquidity and support credit market functioning, including the establishment of a number of emergency lending facilities and the creation or extension of currency swap agreements with 14 central banks around the world. ~ Ben Bernanke

it. But I don't want money. It is only people who pay their bills who want that, Uncle George, and I never pay mine. Credit is the capital of a younger son, and one lives charmingly upon it. Besides, ~ Oscar Wilde

Because cultures and languages are constantly changing and because the apostolic testimony must be attested in ever-new circumstances, it is a necessary feature of the apostolic tradition that it both guard the original testimony and make it understandable in new culture settings. Failing either is to default on the apostolic tradition. Far from implying unbending immobility, apostolicity requires constant adaptation of the primitive apostolic testimony to new historical challenges and languages, yet without altering or diluting the primitive witness. ~ Thomas C. Oden

We're at a crucial point in history. We cannot have fast cars, computers the size of credit cards, and modern conveniences, whilst simultaneously having clean air, abundant rainforests, fresh drinking water and a stable climate. This generation can have one or the other but not both. Humanity must make a choice. Both have an opportunity cost. Gadgetry or nature? Pick the wrong one and the next generations may have neither. ~ Mark Boyle

Sales is this cure all for this problem. Get people to give you their credit card and I guarantee you they're actually interested. ~ Emmett Shear

Early versions of Microsoft Word left a lot to be desired. However, to the company's credit, it quickly learned where Word fell short, made the necessary changes, and repeatedly introduced new versions of the software. ~ Naveen Jain

I made my first film McLibel independently but only by accident. I tried to get a commission from all the standard TV broadcasters but because they had been sued by McDonald's in the past none of them would commission me so I ended up making it by credit cards and rich boyfriends (I'm joking - about the boyfriends). ~ Franny Armstrong

The big fear of the 1980s mortgage bond investor was that he would be repaid too quickly, not that he would fail to be repaid at all. The pool of loans underlying the mortgage bond conformed to the standards, in their size and the credit quality of the borrowers, set by one of several government agencies: Freddie Mac, Fannie Mae, and Ginnie Mae. The loans carried, in effect, government guarantees; if the homeowners defaulted, the government paid off their debts. ~ Michael Lewis

Sharecropping is the dirty little secret at the root of America's wealth - along with slavery itself. The immense profits generated by the industrious yet impoverished Black "sharecroppers" and "tenant farmers" financed Europe's and America's Industrial Revolution, including the building of their railroads, factories, mills, and their entire infrastructure. It is truthfully asserted that the major cities of America and the Western world were "built with bricks of cotton." Today the debt traps designed to ensnare the working poor and middle class in a lifelong cycle of debt - the high-cost installment loans that charge usurious interest rates of 100% or more, the "payday" loans that charge 400% interest, the extortionate credit card multi-charges, the subprime mortgages with ballooning interest rates, and the home equity loan swindles - are the bastard children of the sharecropping American South. It ~ Reclamation Project

I just think a lot of people don't give credit to EDM producers or DJs. People think they're just button pushers and just get on stage and don't really perform. ~ Ansel Elgort

When you need to borrow money the Mob seems like a better deal I think. 'You don't pay me back I break both yer legs.' Is that all? You won't take my house or wreck my credit rating? Fine where do I sign. Legs? Fine. You don't even have to sign anything. ~ Craig Ferguson

Jenna is acting strange. Weeping, moping, even remarks tending toward belittlement Melmoth might tolerate (although he cannot think why; she is not his wife and even in human females PMS is a plague of the past) but when he caught her lying about Raquel - udderly wonderful, indeed - he knew the problem was serious.

After sex, Melmoth powers her down. He retrieves her capsule from underground storage, a little abashed to be riding up with the oblong vessel in a lobby elevator where anyone might see. Locked vertical for easy transport, the capsule on its castors and titanium carriage stands higher than Melmoth is tall. He cannot help feeling that its translucent pink upper half and tapered conical roundness make it look like an erect penis. Arriving at penthouse level, he wheels it into his apartment. Once inside his private quarters, he positions it beside the hoverbed and enters a six-character alphanumeric open-sesame to spring the lid. On an interior panel, Melmoth touches a sensor for AutoRenew. Gold wands deploy from opposite ends and set up a zero-gravity field that levitates Jenna from the topsheet. As if by magic - to Melmoth it is magic - the inert form of his personal android companion floats four feet laterally and gentles to rest in a polymer cradle contoured to her default figure.

Jenna is only a SmartBot. She does not breathe, blood does not run in her arteries and veins. She has no arteries or veins, nor a heart, nor anything in the way of ~ John Lauricella

The victims of ennui paralyze all the grosser feelings by excess, and torpify all the finer by disuse and inactivity. Disgusted with this world, and indifferent about another, they at last lay violent hands upon themselves, and assume no small credit for the sang froid with which they meet death. But, alas! such beings can scarcely be said to die, for they have never truly lived. ~ Charles Caleb Colton

My study is NOT as a climatologist, but from a completely different perspective in
which I am an expert ... For decades, as a professional experimental test engineer, I have analyzed experimental data and watched others massage and present data. I became a cynic; My conclusion - 'if someone is aggressively selling a technical product who's merits are dependent on complex experimental data, he is likely lying'. That is true whether the product is an airplane or a Carbon Credit. ~ Burt Rutan

It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy. ~ Daniel Akaka

Governments are especially adept at using propaganda to induce fear among citizens to control their behavior. When people are frightened enough, they turn to governments for protection. Because we all fear the judgement of others to some degree, governments also use propaganda to manipulate our perception of the expectations of others. If propaganda creates the impression that all the other citizens expect us to be obedient, our default position will be obedience, and that can only be overcome with careful, rational analysis. Any time someone trying to control us can fill our heads with emotions, they can keep us from thinking clearly and lead us to believe in whatever bad ideas advance their agenda. ~ Adam Kokesh

Do you have a credit card or something?" I ask because who wouldn't have a credit card handy during the zombie fucking apocalypse. ~ Courtney Summers

For me, there's a tremendous challenge of singing with Faith, who, in my opinion is one of the best singers in the world. She doesn't get enough credit for being as good as she is. She's so beautiful that people look past her singing. But for a journeyman like me to keep up with her is a real tough sprint. ~ Tim McGraw

Talking about Korea, it has pretty high capital ratios at banks and maintains a good credit rating. ~ Lee Myung-bak

To get more money to spend on yourself - don't buy on credit! ~ Eddie De Jong

More often than not, what people put up online using social media is widely accessible because most systems are designed such that sharing with broader or more public audiences is the default. Many popular systems require users to take active steps to limit the visibility of any particular piece of shared content. This is quite different from physical spaces, where people must make a concerted effort to make content visible to sizable audiences.8 In networked publics, interactions are often public by default, private through effort. ~ Danah Boyd

2. I live in an apartment. I could never live anywhere but in an apartment. I love apartments because I lose everything. Apartments are horizontal, so it's much easier to find the things I lose
such as my glasses, gloves, wallet, lipstick, book, magazine, cell phone, and credit card. The other day I actually lost a piece of cheese in my apartment. ~ Nora Ephron