Credit default swap confusion.

A typical CDS is an insurance policy against a debt default.  You calculate the cost by 'basis points'.   A basis point equals $1,000 annually on a swap protecting $10 million of debt.   If you were long $10 Million in Italian debt, you'd have to pay almost $387,000 a year to insure that ten million […]

Texas has a pretty bad reputation.

Going back to the fifties and sixties when I was raised there.  I can't complain personally, but we let them kill JFK and cover it up – and then we provided Lyndon Johnson as a place-holder.  He wasn't worth a damn. Then somehow, “Dubya” became governor and managed to steal the Presidency with his pappy […]