dick
Added on Oct 24, 2008
Length: 06:07 | Comments: 0
Marketplace Senior Editor Paddy Hirsch gives a bubbly explanation of the intricacies of collateralized debt obligations those financial instruments that got us into this financial mess.
Looks quite a bit like a pyramid scheme to me...
(See Wikipedia for definitions of: Ponzi Scheme and Pyramid Scheme)
Channels: Educational Special Interests Money & Politics
Tags: Marketplace money financial crisis cdo corporate debt offering corrupt manager CEO stupid decisions collateralized debt obligations business
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