Watch the movie The Big Short closely and briefly define the terms Credit Default Obligation and Credit Default Swap.

Watch the movie The Big Short closely and briefly define the terms Credit Default Obligation and Credit Default Swap.

What is the “Big Short” or the Big Bet behind the Credit Default Swaps and how are the characters listed below related to the securities markets you have described above:

Michael Burry  (played by Christian Bale)

Jared Vennett  (played by Ryan Gosling)

Mark Baum (played by Steve Carell)

Finn Wittrock and Charles Ledley

Finally, who is the hero in this “documentary”