You may be correct about the ratings(though there are such things as single tranche CDOs), but regardless of how the rating happens, the toxic assets were insan

You may be correct about the ratings(though there are such things as single tranche CDOs), but regardless of how the rating happens, the toxic assets were insanely overrated. Most of what we call toxic assets now had very little of any quality assets in them, this is especially so since a lot of these CDOs were made up of the "stinky sausage" tranches from another CDO or MBS. They were the hotdogs & mystery meats of the financial industry, but those marketing them advertised them as a "good source of protein". You should take some of your own medicine & read my first link to Huffington Post: "Perhaps more than 10,000 Wells Fargo borrowers were inappropriately steered into more expensive subprime mortgages or had their loan documents falsified by bank personnel, the Federal Reserve said Wednesday." I added the robo-signing scandal as more evidence that they are willing to play underhanded. Additionally the reason for robo-signing & rushing through the foreclosures may have been a tactic to hide deals that had less than valid documentation & sweep them under the carpet. As for editing, I did rearrange or restate some things differently, but I didn't remove the two lines you quoted.