Structured Finance Is Expanding Globally

Dated sometime in 2007. Everything had already started coming unglued. Housing had been declining for more than a year. Insiders were selling like crazy. Credit spreads were starting to widen. Bear Stearns teetered on the brink. The savings rate was near zero.

But the most respected credit rating agency in the world was still pumping the wonders of structured finance. These folks are still running the show...

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