I follow the US market fairly closely and buy and sell individual stocks mainly as a hobby (i.e. I like to gamble). I realize that the housing mess has affected the economy and that millions of dollars have evaporated over the last couple years but I certainly can’t explain the intricacies of the relationship between toxic mortgages and Wall St.’s cliff dive. Then I found this video which clearly explains the notion of a CDO, which is rarely explained in news stories.
Anyone get the title quote?