Hopping Mad
www.markfiore.com Find out exactly how a credit default swap actually works. Learn about AIG and how they helped get us into the recession and our current mess. Also find out about how mortgage backed securities work, using frogs and a trusty rabbit’s foot!
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fantastic
What a lovely description. I’m not quite sure I get the metaphor of the “rabbit’s foot”, but it is quite amusing.
The only video that Mark FIroe made that is accurate.
the rabbits foot represents part of the “bullshit” promises made by financiers to insure and then assure people that the investors were buying “top quality” assets. First he touches the rabbits foot and pays davey (AIG) for credit default insurance. (exactly what AIG was selling)
Second rabbit foot rub added AAA credit rating to the frog backed securities which was another component to the real world scenarios that this is based upon. Very accurate.
Look up credit default swap for more.