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Crisis explainer: Uncorking CDOs
Marketplace Senior Editor Paddy Hirsch gives a bubbly explanation of the intricacies of "collateralized debt obligations" -- those financial instruments that got us into this financial mess.
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Reminds me of this video from the Daily Show (some strong language): http://www.thedailyshow.com/watch/wed-august-12-2009/mba-ethics-oath
My Mom had a saying: When you point a finger, 3 fingers are pointing back at you. There's enough blame to go around for everybody. Greedy bankers, fund managers, investors, & borrowers all contributed to this mess. Forget about fixing blame because we never get past that point. Fix the problem, not the blame.
You should use IdeaPaint for these segments... www.ideapaint.com (client) :)
Aye, aye man! Brilliant! Sheer genius! About time somebody explains in a few minutes what that mass financial media have been too incompetent(or afraid) to explain for quite a while now..I'm going to have a drink. I'll have a spot of tea. :)Keep up the good work good fellow!
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