Are you curious about what blew up the global financial system?
This is a pretty good explanation of what a sub-prime mortgage derivative is.
Three things that were left out of this explanation:
1. The reason sub-prime mortgage derivatives are so troublesome is many hundreds of billions of dollars are these instruments were created and sold.
2. They were sold as SAFE investments
3. Sub-prime mortgage derivatives are only part of the problem
This video was posted BEFORE July 4th in 2007. It's hard to believe that any financial professional can claim with a straight face to be surprised by the melt down in the fall of 2008.
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