Your English writing platform
Discover LudwigSuggestions(2)
Similar(58)
This will amount to hundreds of billions of dollars' worth of defaults".
This will amount to hundreds of billions of dollars worth of defaults".
But it is Ms. Whitney's contention that hundreds of billions of dollars' worth of defaults could come to pass that has aroused a firestorm.
Because of record defaults likely this year, the size of the European market won't gain much ground; in the first two months of the year alone, Barclays counts $3.6 billion worth of defaults in Europe.
Last year, however, it took off, and some $170 billion-worth of default swaps were written.
AIG stupidly shorts a trillion dollars' worth of credit default swaps and Lehman, overleveraged, is allowed to fail.
For example, some banks are heavily exposed to billions of dollars worth of credit default swaps entered into with the major bond insurers.
AIG wrote a trillion bucks worth of credit default swaps while Merrill Lynch and Citigroup bought hundreds of billions in mortgage-backed securities and lost their ass.
The bonuses will be paid to executives at A.I.G.'s financial products division, the unit that wrote trillions of dollars' worth of credit-default swaps that protected investors from defaults on bonds backed in many cases by subprime mortgages.
The financial vehicle, Maiden Lane III, was created in 2008 to hold $24.3 billion worth of credit-default swaps that A.I.G. once owned.
In the lead-up to the crisis, investors bought billions of dollars' worth of credit-default swaps as insurance on risky mortgage-backed securities.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com