hisah wrote:This CDO biz is the largest ponzi ever...
@hisah it would be unfair to label the whole CDO biz as a ponzi. Yes RMBS was the main driver for the 2008 global financial crisis. But remember there are also CLOs which are an important financial instrument used by markets. If the CLO market were done away with the financial markets would be in disarray as there would be no markets for issuers to obtain financing in the markets.
I work as a trustee and can tell you that we are still closing CLOs/CDO albeit with more restrictions and with investment managers been required to invest more in the equity/subordinated notes.
BTW....Your posts are very insightful. Continue the wazua spirit.
My two cents......