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Wow Dante watched & read some fictional stories & thinks he knows something.
boedicca is correct. There was no market for these worthless junk bond derivatives until the Full Faith & Credit of the US Government was backing them. This gave them a AAA credit rating, then Pension Funds, Banks, & Governments around the world wanted them. The GSE - Government Sponsored Enterprises is the root cause of all the evil.
boedicca is correct. There was no market for these worthless junk bond derivatives until the Full Faith & Credit of the US Government was backing them. This gave them a AAA credit rating, then Pension Funds, Banks, & Governments around the world wanted them. The GSE - Government Sponsored Enterprises is the root cause of all the evil.