Below is a link form the Washington Post to a 3 part article that provides some insight into the credit crisis of 2008, that brought down some major financial institutions and put many other on the brink of collapse, at least on the Wall Street side of the equation. The three sub-articles are titled "The Beautiful Machine", The Crack In The System", and "Downgrades and Downfall". In a nutshell three kinds of relatively new derivatives were the major players in the credit crisis disaster; "Mortgage Backed Securities" or MBS, Collateralized Debt Obligations or CDO, and "Credit Default Swaps or CDS.
http://www.washingtonpost.com/wp-srv/business/risk/index.html?sid=ST2008122902683&s_pos=list or http://tinyurl.com/7om89a Regards, LelandJ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
