This Would Be Funny If It Wasn't All True

Possibly the best comic form summary of the CDO MBS scandal. (Sub-prime loans crisis.)

http://www.suburbanhousehunters.com/about/mortgage-crisis/

Of note.

  1. 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.
  2. 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.
Advertisements

About metawrap

CTO Massive Interactive. Ex Computer Whiz Kid - Now Grumpy Old Guru.
This entry was posted in Just Kidding, Meta-Narrative, Rants. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s