Nope, sorry, the whole CDO thing was a collusion and frankly the ratings companies, underwriters and all the investment banks are guilty of countless RICO and FRAUD violations.
Keep trying to pretend no laws were broken... makes sure that Wall Street never pays the price for their actions. After all its wall street... its above the law.
CDO’s aren’t illegal, they’ve never been illegal.
This is just the normal business cycle. Like the Telco’s a few years ago, Internet, etc...
If it wasn’t for housing and CDO’s we would have been in a recession for the last 4 years.