Credit's Alphabet Soup

Understanding Credit's Alphabet Soup
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By TheBigPicture | 9 November 2007

There were a couple of great graphics in the New York Times recently, explaining in some degree of detail, the machinations of the RMBS, CDO and CLO markets.

These are the packaged (and repackaged) holdings that are based upon the sub-prime mortgages that have been defaulting in such large numbers, and have been leading to hedge fund blow ups.

First up: todays front page article by Gretchen Morgenson: Mortgage Maze May Increase Foreclosures.

[ Normxxx Here:  Ah, for an Alexander to cut through the Gordian knot.  ]

Graphic courtesy of NYTimes
Click Here, or on the image, to see a larger, undistorted image.


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