The credit crisis demystified
Bob Morris @ Oct 22nd 2007 06:45 - Category: Credit crisis
Wherein it is explained how an unemployment man sitting on a stoop morphs into a Structured Investment Vehicle worth $100 million. Oh wait, it was worth $100 million, then it wasn’t, now no one has a clue what actually it’s worth. Truly, our modern-day financial alchemy is wondrous indeed.
Watch the video. 8 minutes of humor that explains what’s happening better than many a lengthy article.
Tip: Calculated Risk
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