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The investment bank securitized and sold bundled mortgage investments while making massive bets that they would fail.
They are processing, generating and re-securitizing nothing.
Today's financial innovators package assets in ever more complex ways, slicing, dicing, securitizing, always using someone else's money. They sell debt, transfer risks, leverage bets.
The investment bank securitized and sold bundled mortgage investments while making massive bets that they would fail.
They are processing, generating and re-securitizing nothing.
Today's financial innovators package assets in ever more complex ways, slicing, dicing, securitizing, always using someone else's money. They sell debt, transfer risks, leverage bets.