A CDS works like a fire-insurance policy: the holder pays a regularpremium, but if the house burns down there is a big payoff.
一个信用违约互换就象一张火灾保险单：持有人定期支付保险费，但是假如房屋被烧毁，就有一笔大额偿付。
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I don’t usually pay the premium for organic groceries, but this was a steal, comparatively: later that day I saw the exact same size and brand at a regular grocery for $4.49.