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Originally Posted by dalakhani
It actually goes so far beyond what i described especially with the CDO part but I am not smart enough to explain it in less than a book.
I do want to add that not nearly all of the problems are due to fraud. I would say a good portion of our problems were based on what Scuds touched on which was faulty risk assessment.
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Help me out with this one. What part is all those loans where the first 5 years were interest only that people were getting playing in this? Knew some people that went that route and all I could do was shake my head at the time.