It's another episode of Greedy Bastards Antidote. Today, we're talking about credit default swaps -- Greedy Bastards' favorite financial innovation of the past ten years. Think of a swap as an opportunity for financial companies to sell insurance on credit. In this podcast, you'll learn exactly what credit default swaps are, and why they're dangerous to our economy.

Our guest is Chris Whalen of Institutional Risk Analytics, contributor to Ritholtz.com, and editor of the Insitutional Risk Analyst, a weekly news analysis and commentary on risk and the global political economy.