Judges then give each sample a rating based on appearance, odour, flavour, mouthfeel and aftertaste, similar to the elements involved in wine tasting.

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Essentially, this money machine used extreme diversity and interlinking of transactions plus the insurance (credit default swaps) to give the appearance of reducing risk such that there could be a AAA rating.

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It was Foot's unwillingness to change his appearance, his clothes or his principles, that brought him a popularity rating of just 24%, the lowest since polling began.

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