Re: How Mortgages Are Turned Into CDOs, And How A Sow's Ear is Turned Into A Silk Purse
 


  Very well put, I can barely imagine how one would
 characterize the situation much better. The cited text
 simply does not detail the risks as well as you have.
 I myself would probably use some convoluted made up term
 like non-cross-collateralized risks - which might be close
 to accurate but would confuse more people than it would help.
 
 

http://groups.google.com/group/misc.invest.stocks/msg/7e55183aad0ddd10