just watched the big short- at the end Vennett gets a large cheque- why exactly? He sold CDS to Baum and his fund, so his bank must have been losing a lot when the underlying CDOs went foul- or did i miss sth?
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just watched the big short- at the end Vennett gets a large cheque- why exactly? He sold CDS to Baum and his fund, so his bank must have been losing a lot when the underlying CDOs went foul- or did i miss sth?