[Marxism-Thaxis] 2 paragraphs; seven sentence explanation of financial crisis

1). Structured finance allows general risk in all debts to be unbundled into tranches in a hierarchy of credit rating, 2). allowing even the most conservative to participate in the debt bubble by holding the supposing safe low-risk tranches. 3). But the safety of these low-risk tranches

Re: [Marxism-Thaxis] 2 paragraphs; seven sentence explanation of financial crisis

>>2 paragraphs; seven sentence explanation of financial crisis<< I said back in 2001 that so-called risk diversification and management just meant the crash would be big next around (that was on Duff Henwood's hostile LBO Talk list). Some wanted to believe that risk had been eliminated. Duff himse