Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I do see a pyramid structuring of CDOs. I would not call it bubble - the CDOs were rarely traded. They were perhaps hardly tradable by design or expectation. As the last citation says,

"They were worth what the issuers said they were worth - until they tried to sell them."

by das monde on Mon Aug 20th, 2007 at 05:48:30 AM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series