2-page reading response

Read Fool’s Gold, by Gillian Tett.  Answer the four questions listed below.  The assignment must be typed and turned in as a hard copy.  Your goal is to convince me that you read the book.

1)     What are credit default swaps and why was the concept so important to financial institutions?

2)     Describe the “BISTRO” concept and what its purpose was, why was it so important?.

3)     Pick 3 important “players” in the book and briefly describe their roles/influence.

4)     Are “Credit Default Swaps” good things or bad things in your opinion?  Explain why.