4 ms·
I don't think most people realize how big the MBS market is. Most of the damage in 2008 wasn't from reckless Wall St traders and financial engineering, it was s
by qeternity 4y ago
I don't think most people realize how big the MBS market is. Most of the damage in 2008 wasn't from reckless Wall St traders and financial engineering, it was simply from a decline in housing prices on the back of a bubble that was created by the US Govt.
- linuxftw 4y agoA large portion of it was outright fraud by the mortgage brokers and the rating agencies. The agencies slapped everything as 'investment grade' so the worthless securities could get bankrolled by everyone's retirement plans.