The financial products were made "safe" by insurance products known as credit default swaps, a credit derivative from companies such as AIG.

由保险产品“保险”生成的金融产品就是所谓的“信用委托互换”，这是来自AIG等公司的信用衍生品。

youdao

We understand it to be a real issue that could potentially cover any over-the-counter derivative contract - so swaps, forwards, options, whether interest, FX, credit equity or other.

我们认识到这是一个切实的问题，有可能会覆盖所有场外衍生品合约——掉期、远期、期权，无论是利率、外汇、信用资产还是其他。

youdao

Clearly, the brutal financial damage that swept the financial community due to unregulated, little-understood derivative contracts like credit default swaps is one of the most controversial issues of the financial meltdown.

FORBES: Commentary

In the domain of derivative contracts like credit default swaps or auction-rate preferreds (which even George Soros didn't know existed) or complex collateralized debt obligations of mortgage-backed bonds, there was a "failure to know what isn't known, " and the ramifications for not knowing were huge.

FORBES: It Was 79 Years Ago Today

The venture between the two Chicago firms is meant to launch within 30 days and would provide a fully integrated trading and clearing platform for credit default swaps, the complex derivative contracts that have been one of the flash points of the credit crisis.

FORBES: Magazine Article