In Michael Lewis's _The Big Short_, some of the people buying CDSs (unregulated "insurance") on mortgage backed securities that they didn't own did the trades w

In Michael Lewis's _The Big Short_, some of the people buying CDSs (unregulated "insurance") on mortgage backed securities that they didn't own did the trades with brokers that had never done it before, but figured it out. All it takes is a willing accomplice with the right connections.