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CDO Is Not An Operating System: The Next Financial Diasaster

AS it slowly dawns on the world that the financial markets were simply a global version of the village that made a luxurious living taking in each other’s laundry, I thought you might like a hint as to the next disaster to unfold.

We know about sub-prime mortgages, and we know about credit default swaps. Admittedly we don’t know very much about them, but that’s because the people who created these little gems really don’t want us to know much about them. And, in fairness, many of the people who got enmeshed in them knew bugger all about it anyway, so let’s not beat up on ourselves about it.

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Posted: 23rd, October 2008 | In: Money | Comments (26)