A polite summary would do much better. An enthusiastic "hey, let me tell you about..." is fun. But no, you have to be snide.
A polite summary would do much better. An enthusiastic "hey, let me tell you about..." is fun. But no, you have to be snide.
>>A polite summary would do much better.
AAA Rated CDO’s - ( Collateralized Debt Obligations ) were manufactured via the Subprime Securitization process. Significant portions of the underlying loans were tied to LIBOR instead of the American FED’s Prime.
Subsequently, round about 2007+, it was discovered that significant numbers of those AAA CDOs were not really AAA worthy - and were rapidly downgraded to Junk status, precipitating the banking crisis of 2008. Hence the term “A$$Paper” in reference to to associated Asset Backed Securities.
In the mind of most reasonable folks, the amoral deception by which those overrated securities were manufactured and sold constitutes fraud.
Enter Tarp, QE1, QE2.. and the bailout of the perpetrators at the expense of everyone whose wealth is dependent upon the value of dollar.
Etc Etc.
Click the Links. Nothing there to bite you except the Truth.