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Twiddle Dumb and Twiddle Dumber - Part Two!
In Twiddle Dumb and Twiddle Dumber - Part One I talked about reading Michael Lewis's book The Big Short and some of my opinions about the Stock Market and Big Corporations.  Some of you that think you know me ought to really see what I have to say.
In these post I want to try and explain what they were doing in the Bond Market and why it was bad.  I do not claim an expert knowledge and I am really looking for your feedback and understanding too.
Basically I think we all understand that mortgages get bought and sold after the home loan is made.  Well they took it one step further with the bond market.
Mortgages were backed as a group and sold in bundles.  Basically you spread the risk around.  If you bundle a bunch of mortgages together and a few go bad it should not hurt too much.  Better yet small investors can buy a piece of this mortgage market.  To me this does not sound like a bad idea. However, as we have all heard about the Lenders were under pressure to ease lending standards.  As we all know a lot of bad mortgages were being ... more

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