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You could say that MBS/CDOs were 'leaky abstractions', and that there were equivalents to 'code smells' to suggest they weren't the golden debt they masqueraded

You could say that MBS/CDOs were 'leaky abstractions', and that there were equivalents to 'code smells' to suggest they weren't the golden debt they masqueraded as. I can't think of other professions that develop the same level of abstractions that programmers and bankers create. Layers and layers of inputs and outputs.

TheOtherHobbes 4y ago
You could also say they were deliberate fraud. The number of big-name banks whose actions are questionable [1] - if not actually criminal - is astonishing. [1] As reported by insider papers like the Financial Times.