Michael speaks with representatives at Goldman Sachs to purchase credit default swaps on mortgage bonds. They explain that this means he is betting against the housing market, that millions of people won't be able to pay off their mortgages. Michael surprises them throughout the conversation but especially when he asks to purchase $100 million instead of $5 million in credit default swaps.
The state representatives debate the formal election of national senators. They decide whether senators should be elected by the House of Representatives, National Executives, The People, or by State Legislators.