(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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