And AIGFP did have one of those, which was just lovely for them.

FORBES: Don't Fear the Greek CDS

For the people who got into trouble were AIG Financial Products and the problem at AIGFP is that they were not treating their CDS contracts as derivatives whose value changed with underlying prices.

FORBES: Black-Scholes Didn't Cause the Financial Crash

Which was also lovely for AIGFP.

FORBES: Don't Fear the Greek CDS