Marketplace Off Air
The Whiteboard: How credit cards become asset-backed bonds
Mortgages aren’t the only financial instruments that get turned into securities. Marketplace Senior Editor Paddy Hirsch explains how companies make money by buying credit card debt and bundling it.
- November 25, 2008 — Richard Core
- 5 comments
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Comments (5)
November 26, 2008 5:35 AM PT
Wow! We are clearly living in a house of cards. As a genX I couldn’t care less about economics…Now its an addition. Its a sad day when I dump Greenday from my iPod, to get Scott Jagow!!
November 26, 2008 6:31 AM PT
When are we going to outlaw gambling, the buying and selling of CDO’s and other ‘securitized debt?’ Even more important, when are we going to outlaw the ‘insurance-like,’ non-insurance products that cover these bets? Anytime you hear “innovative, new financial products,” even when proclaimed by Kevin Warsh in his speech to Federal Reserve on July 28, remember Enron and Andy Fastow. We know what happened to him and his former company. What will happen to the U.S. and our government?
April 3, 2009 7:38 AM PT
Hey everyone… how do I search for more than one word in other posts, so that it returns only posts with those two words?
June 3, 2009 1:29 PM PT
Just wanted to drop in and say hi, great forum here :)
June 5, 2009 10:14 PM PT
Just wanted to say you all have a great forum. Seems like a good place I can actually be a part of. :)