Wednesday, October 27, 2010
Jeff Larson and Karen Weise, ProPublica
Submitted by: Editor
Jeff Larson and Karen Weise, ProPublica
Submitted by: Editor
Interactive: CDOs’ Interlocking Ownership
ProPublica reported that in the two years before the meltdown Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history. As part of their story, they wrote of 85 instances during 2006 and 2007 in which two CDOs bought pieces of each other. The trades enabled the completion of $107 billion worth of CDOs and underscore the extent to which the market lacked real buyers.
See their marvelous interactive graphic to get a visual for the incestuous double-dealing Wall Street devised to earn record profits at the expense of the tax payer.
Visit the interactive Graphic, then
- Click on a CDO to see the other CDOs it swapped unsold pieces with.
- Click on an underwriting bank, for example Merrill Lynch, to see which banks’ CDOs had cross-ownership.
- Click on the bank tab to get a sense of how many instances of cross-ownership there were for any given bank. (Or see them all.)
Read Full ProPublica Article
Posted by Editor on 10/27/10 at 11:19 AM •
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