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Unfortunately, it isn't clear that even the people selling these mortgage-backed securities knew how risky they were.
by DougBTX 18y ago
Unfortunately, it isn't clear that even the people selling these mortgage-backed securities knew how risky they were.
- Tichy 18y agoOne more reason not to blame "bad morals" for the crisis. I guess most "securities" had a long chain of other investments behind them, and one or more chain elements where risky. Of course the guy selling the thing ten steps down has no idea anymore how risky it is. But that is where transparency could help a bit, maybe?