default swaps

If the ABCs of the financial meltdown leave your head spinning -- if "default swaps" and "collateralized debt obligations" and "high-rated tranches" are all just so much gobbledygook -- don't worry.

You're not alone.

Sellers of insurance on bonds issued by Lehman Brothers are now likely to face demands that they pay out more than 91 cents on the dollar to buyers of those insurance contracts.