One of the main culprits behind the economic collapse of 2008 was the combined speculation into what are called Collateralized Debt Obligations (CDOs) and the use of Credit Default Swaps (CDSs) to reduce the risk of investment for those buying CDOs. Roughly, here’s what went on. CDOs are really a form of gambling. When a More
This content originally appeared on CounterPunch.org and was authored by Edgar Kaskla.