Credit default swaps in plain english

This is the best "straight talk" segment I've watched on how we went from subprime/CDOs to credit default swaps (CDSs) to the current financial crisis. It does a great job in demystifying what credit default swaps are. After watching this you can't help but feel angry about how this kind of greed and deregulation can exist today. Talk about the biggest Ponzi scheme ever. It's incredible.