Via Paul Krugman, make sure you check this out. It’s a fantastic graphical representation of how Collateralised Debt Obligations work and what happens when people start defaulting on their mortgages.
Research Economist at the Bank of England
Via Paul Krugman, make sure you check this out. It’s a fantastic graphical representation of how Collateralised Debt Obligations work and what happens when people start defaulting on their mortgages.