Several important lessons can be gleaned from this exercise. First of all, one must acknowledge the inevitability of Black Swan Events, a term was created by Nassim Nicholas Taleb and expanded upon in his book "The Black Swan." For recorded history, all swans were known to be white in European society, and it was taken as an absolute truth. This is analogous to how the implementation of the Gaussian Copula looked at only CDS prices from the time that CDSs had existed: the last 10 years [8], and within that realm it allowed a great approximation of what appeared to be very little risk. To continue the analogy, explorers in 18th century Australia found Cygnus atratus, the black swan, shattering the notion of a white swan planet. This discovery is akin to the real estate bubble's ending and cataclysmic consequences.