All Posts Tagged With: "CDOs"
How Paper Mortgage Losses Turned Real
The question that keeps coming up is this: If only a small portion of all mortgages are failing how come the general financial impact has been so enormous? To resolve this mystery, let’s go back to the 1970s when the mortgage-backed security — the MBS — was developed. The MBS was a financial device designed [...]
15Dec2008 | Peter G. Miller | 0 comments | Continued
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