Green Energy Enterprises Inc. (GYOG)

[Porgie Tirebiter]

It's not hard at all, you just have to pay for them. They are only necesary when you are perceived as a risk.

They are nothing but a default swap. For a fee, someone trustworthy agrees to underwrite the risk. It's insurance.

So in the case of Newby's financing for QASP, the banks wouldn't loan unless the SBLC was 100% funded with cash. So Newby goes out and goes through the motions of marketing this risk, and apparently there were no takers. The swap was unmarketable.

The money guys looked at it, and walked away.