How was Ben Rickert able to secure an ISDA agreement?

Question

In The Big Short, the Ben Rickert character, played by Brad Pitt, helps a small hedge fund secure an ISDA agreements with institutional banks so the small fund can start trading credit default swaps.
If Rickert is retired, how is he able to secure the $1.5B cap requirement? Was the assumption that Rickert came out of retirement and re-joined an ibank or that he literally had more than $1B in cash?

Flater · Answer

Rickert has connections. Moreover, he's considered to be exceedingly good at spotting valuable opportunities, and people are going to take his advice that into account.
When Rickert speaks to the banks and tells them that giving them an ISDA is going to work out in the banks' favor, they're going to be much more inclined to deal with that small hedge fund they would have otherwise ignored.

How was Ben Rickert able to secure an ISDA agreement?

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