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25 January, 2016

Get ready, the Wall Street mafia does it again ...

globinfo freexchange

From the movie "The Big Short":

When the dust settled from the collapse, 5 trillion dollars in pension money, real estate value, 401k, savings, and bonds had disappeared.


8 million people lost their jobs, 6 million lost their homes. And that was just in the USA.


[...]


In 2015, several large banks began selling billions in something called a "bespoke tranche opportunity." Which, according to Bloomberg News, is just another name for a CDO.

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