Fun fact: Scam credit default swaps have NEVER paid out – even after Greece defaulted on its sovereign debt. CDOs are just another make-believe insurance policy against the unthinkable.

May 29, 2023 10:13 am by IWB

These credit default swaps on U.S. treasuries are now worthless 🍿 https://t.co/FQUZXdc38m

— Financelot (@FinanceLancelot) May 28, 2023

h/t Simian_Stacker