Another day, another big bank settlement. You're in the right place folks because this is where the money is.

Hey I'm Allison Southwick and I am joined today by John Maxfield over in Portland, Oregon.

Hey John, how you doing?

I'm doing great, thanks, Allison.

Oh, great, great to have you here.

Before we started and sat down here to start taping,

we were talking about how credit default swaps are just

like food trucks.

So my point was that everyone claims that they invented the food truck and you, your claim is that my claim is much more interesting than my

claim let's be honest I was just making an analogy you know I read a lot about banks.

I wouldn't recommend it to the average person.

But one of the things you come across that everybody

in the world seems to claim that they know somebody

or they know the organization that invented

the credit default swap, which is a fancy derivative that allows banks to take credit

risk off of their balance sheet and transfer to somebody else.

It's a really boring and nuanced topic. Food

trucks living in Portland, Oregon are much more interesting. Right, right. And so I

argue that Portland, Oregon did not invent the food truck. And yeah't dispute I wouldn't dispute that and I

wish I could speak with authority on this topic but I can't but what I will

say is and I said this to you before we started taping, is that I think it would be very difficult to quantitatively prove who invented the food truck.

Right, right. So we may never get down to the mystery of who invented credit default swaps or food trucks, but I think it's nice that there's a little overlap there between Portland and banking, aside from just you.

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