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You didn't recognize how you did just the same with bitcoin - taking out one of the value points and creating strawman out of it?

1. CDS is basically an insurance product: http://en.wikipedia.org/wiki/Credit_default_swap

2. I mentioned CDO just as an example of "risk analysis" failure by credit rating agencies.

I did this to point what kind of innovation you are talking about in your impressive list of acronyms that you mentioned in your first post.