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 Gretchen Morgenson - Gretchen is a business reporter/columnist at the New York Times where she also serves as Assistant Business and Financial Editor. She is co-author with Josh Rosner of the bestselling book Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.