The possibility of subprime fallout affecting a global credit crash was discussed Thursday on Australia’s TVABC’s Latenight program with reporter Stephen Long:
The video provides a good summary of the relationship between subprime loans and collateralized debt obligations, (CDOs) and discusses the risks.
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Moin Twist,
this video comes to mind…..
Jan-Martin-
Great video- I used to try that with dominoes, but I never was very good at it.
Hedge funds buying CDO’s and CDL’s and then borrowing money against them what a racket. I like the part of poor people buying homes and defaulting on the loans. I think we need to substitute the word poor for stupid. I understand alot of the leverage was in the order of 10 to 1 so borrowing 100 billion against the fund value of 10 billion. And then reinvesting that what a tangled web it is.