Possibly the best comic form summary of the CDO MBS scandal. (Sub-prime loans crisis.)
- SPV‘s is the general term for the more specific term of SIVs (Structured Investment Vehicles). Expect to hear more about these in the future.
- They don’t mention that some of the ratings agencies and the financial institutions had shared ownership which could be counted as a conflict of interest. IMHO If nothing is done legislatively to regulate ratings agencies then this can always happen again. They obviously have a large duty of care.