fraudulent cdos: The Origins of the Bank Bailout
- 10/03/08 11:49 AM
Laypeople who want to keep up to date have been reading much about the situation but I have yet to see a narrative explaining each significant step of the way. I do not pretend to know everything about this very complex set of facts and may err in some details but this is what happened. History. The role of Freddie Mac, Fannie Mae and others you haven't heard of yet expanded in the 1960s because of the first rule of banking. That rules states "Don't lend long and borrow short". That means don't lend money on a mortgage for 30 years … (1 comments)
Laypeople who want to keep up to date have been reading much about the situation but I have yet to see a narrative explaining each significant step of the way. I do not pretend to know everything about this very complex set of facts and may err in some details but this is what happened.;)
;)
