Sunday, April 18, 2010

CDO Scandal - Subprime Refresher

Meet wanna-be homeowners, mortgage originators, The enablers. AKA the rating agencies...this is courtesy of Courtney Comstock, a writer at Clusterstock.

SEC case against Goldman and Fabrice Tourre* has a spotlight back on the mortgage crisis. Tourre allegedly packaged CDOs filled with very risky mortgage bonds and then marketed them to investors by telling them that Paulson was long. He wasn't. Michael Lewis's book, "The Big Short", explains very well what happened during the crisis - who was long, who was short, and how they did it.

Read More or as a Slideshow

Who is "Fabulous Fab" Fabrice Tourre? Click here for Details and find out.

*Fabrice Tourre's Bloomberg Profile

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