The emergence and collaps of a market: CDO/Collateralized Debt Obligation

July 01, 2010

... or sub-prime mortgage credits (triple-B-rated) packaged in bonds (triple-B-rated), and then packaged in CDOs (triple-A-rated... the magic leap)... that may also become components of new CDOs (triple-A-rated)... against which mortgage default swaps were issued... swaps that became the exclusive component of the synthetic CDOs (triple-A-rated)... then Mr Wing Chaw - and many, many others- advising institutional investors (big pocket, risk averse, only triple-A-rated assets) to buy them... a systemic failure in making risks assessment.

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