Thursday, February 21, 2008

CDOs - Humor

Asset-backed-securities (ABS) are at the center of the financial crisis in which the banking industry finds itself. Nevertheless, enterprising bankers haven't lost their sense of humor. (This was sent to me by a private banker friend).

This is a fairly concise synopsis for the layman of how the crisis is playing out.

Is this a sign that the crisis is coming to an end, or a sign that there is no end in sight?

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