My SO explained credit default swaps to me yesterday and I find the fact that you can "insure" things you do not own to be wild. (there's a lot about this that's really excessive, but this particular thing stuck with me)
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Replying to @ManishEarth
The Masters of the Universe know what they're doing. If you question them you'll open a rift in the cash time continuum. Nothing to see here nothing to see here.
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