The Big Short Movie Article by The Fiscal Times
If you haven’t seen “The Big Short” yet, you need to! Deja Vu of 2008 on a bigger scale!
The Fiscal Times reported: “The Big Short tells us to keep the focus on Wall Street: A caption at the end highlights a new product being sold called a “bespoke tranche opportunity,” just another word for a CDO. But the underlying assets in these derivatives are largely corporate debt, and the numbers are so far pitifully small — $20 billion a year, compared to the trillion dollars annually in securitized subprime loans during the bubble. Private securitization for mortgages has been basically flat for seven years.”