stocon

Back to the Future in the Credit Derivative Time Machine

Jeez, this real estate downturn is hardly a meltdown and mild so far compared to early nineties. Banana republic??

Back to the Future in the Credit Derivative Time Machine

OK they way I understand it is that someone created and bought these time bombs fully knowing that in a slow down or in a contraction they would wreck havoc. I mean wasn't there full disclosure about the risks of these CDOs in various market environments and the brightest minds in finance understood this? Aren't these things in pensions and related to money markets? Shouldn't somebody be going to jail? Am I missing something here?