06-04-2008, 04:58 PM
The "fraud" is overblown, but thats irrelevant anyway.
Its called risk. Risk that the MBS buyers assumed (whether they knew it or not, there is no free lunch and no gauranteed 5% security!!!).
This is the correction.
Its called risk. Risk that the MBS buyers assumed (whether they knew it or not, there is no free lunch and no gauranteed 5% security!!!).
This is the correction.