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by earl, 5175 days ago
Back to the big financial tumult of 2007/2008: "People knew it was bad, but it was difficult to assess how bad until 2007 when Merrill Lynch seized the mortgages underlying one of Bear Stearn's CDOs. When they did, the loans which backed the CDO were once valued at $850 million, but Merrill Lynch was only able to auction them for $100 million." ~

And by that way: good bye, Anarchaia! I don't even want to know how many hours well spent were due to links originating at Chris Neukirchen's most excellent tumbleblog.
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