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They didn’t collapse because of CDOs. They collapsed because GSEs had pushed the real estate market to ridiculous levels. The GFC was a classic case of governme
by qeternity 7y ago
They didn’t collapse because of CDOs. They collapsed because GSEs had pushed the real estate market to ridiculous levels. The GFC was a classic case of government interference creating market distortions.
- Craighead 7y agoWeird, why would indiscriminately layering traunches of risk to fool ratings agencies not be considered the problem?
- AnimalMuppet 7y agoEven if true, that's not very comforting. The real estate market is once again at ridiculous levels...