Awesome video
Thanks for the link.
One thing it needs to mention is that the higher risk loans continued to be rated AAA and sold on as such, due to the certifiers in the US basically not giving a fuck as they were all making too much money. Credit streams' risks were understated and that's when it all blew up.
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fross Read your email on, Mon 9 Mar 2009, 13:06,
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As I understand it
The loans were rated by people who didn't understand them, because anyone who did understand them was off making money off them in a much better job than rating loans.
Also the vid missed out the correlation thing, and that formula that they were using. But otherwise awesome.
(, Mon 9 Mar 2009, 15:33, Share, Reply)