Not pretending to know anything about stocks, swaps, etc., just posting what seems pertinent from buzz words used on the news relative to our current financial crisis.
Youtube sidebar comment by the person posting this video:
"BBC Newsnight feature by Alex Ritson on Credit Default Swaps - until recently a little-known financial product that Lehmans Brothers, AIG and the Icelandic banks were up to their necks in. Could this be the black hole at the centre of the financial crisis?"
YouTube - Credit Default Swaps explained clearly in five minutes