"I have a mind like a steel... uh... thingy." Patrick Logan's weblog.

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Thursday, April 10, 2008

We Lose A Little On Every Loan But Make It Up In Volume

(via Steve Dekorte) a slide show explaining how "Collateralized Debt Obligations" full of bad loans became AAA rated. Sad, but true, and further essential reading for all citizens and investors.

If you've ever wondered how and why corporations can carry potential debt "off balance sheet", this explains it using stick figures. Even politicians could understand it. Share with your congressmen and women.

"But crap is crap, isn't it? I don't get it.

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About Me

Portland, Oregon, United States
I'm usually writing from my favorite location on the planet, the pacific northwest of the u.s. I write for myself only and unless otherwise specified my posts here should not be taken as representing an official position of my employer. Contact me at my gee mail account, username patrickdlogan.