Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
I clarified my use of Ponzi/pyramid terminology in a parallel sub-thread. I do not refer to CDOs as Ponzi.

The lack of  CDO trading was especially emphasised at the moment of BNP Paribas crisis. CDO valuation was anything but effective. Banks and hedge funds would have normally sold junk CDOs away, but they were scared reveal the real value of CDOs; and the real value of CDOs was opaque because they were rarely traded. That was the reasoning so shortly ago.

by das monde on Mon Aug 20th, 2007 at 06:34:41 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series