And that is how to help those people that are actually paying on their mortgage that have been struggling to try to honor their contract. And let's get them refinanced into a lower rate. So you've got the … The credit default swap market is known as the ticking time bomb that can blow up the whole global financial system. … speaking about. Do you all of you know what a credit default swap is? I have no problem. Don't worry if you don't, because it's a very complicated instrument. (18:03–18:06)
CLAIM
Asserts that the credit default swap market poses a significant risk to the global financial system.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
