Dr. Sheldon Stahl, former economist for the Federal Reserve, explains how the traditional mortgage and consumer lending industries were transformed by greed into a worldwide con game that is now collapsing as we watch.
Today is March 3, 2009, the dow is at $6700 and that $1 trillion exposure is estimated at $7 trillion and the CDO's are pureed into the toxic soup of nonretrievable assets. In CNBC's House of Cards, there is a section on CDO's which is execellent and I'm trying to find it on youtube. Next is coming the commercial property mortgages defaults which are even more highly leveraged.
For those who want more information, watch critically acclaimed documentary, "Inside Job", narrated by Matt Damon and got 98% on rottentomatoes.
dajusta87 3 weeks ago
Today is March 3, 2009, the dow is at $6700 and that $1 trillion exposure is estimated at $7 trillion and the CDO's are pureed into the toxic soup of nonretrievable assets. In CNBC's House of Cards, there is a section on CDO's which is execellent and I'm trying to find it on youtube. Next is coming the commercial property mortgages defaults which are even more highly leveraged.
surfstomp 3 years ago