Posts Tagged ‘CDOs’

Busting the Rating Agency

Busting the Rating Agency

By The Banker | Blog Posts, Wall Street

Yo everybody 5-0! 5-0!  The cops are here! The US Justice Department filed a lawsuit yesterday against Standard & Poors, for its role in over-rating mortgage bonds, CDOs, and other securities in the years 2004 to 2007, securities which later proved to be weapons of mass financial destruction – the initial catalysts of the Great

Book Review: The Big Short, Inside the Doomsday Machine

Book Review: The Big Short, Inside the Doomsday Machine

By The Banker | Book Reviews, Wall Street

In one obvious respect, The Big Short follows Michael Lewis’s winning formula for a blockbuster book on sports or finance: character sketches so compelling, funny, and sympathetic that he makes an arcane industry understandable by the average reader. Less recognized, but even more impressive, however, Lewis bucks the dominant trend in media coverage of the