This video by PBS's NewsHour is one of the best explanation of the securitization that I have ever seen. It's a must watch -- prestented in two parts.
CLICK HERE TO WATCH PART 1 of 2
CLICK HERE TO WATCH PART 2 of 2
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That's really great stuff.
It also shows why the true intention of the proposed bailout. The President, Congress, and the Feds aren't worried about buyers facing homelessness. They're worried about their buddies who are getting creamed with their investments in hedge funds.
If there was ever a welfare for the rich program, this is it.
That's the best explanation of securitization that I've seen. I've forwarded the videos to dozens of people.
One thing that the video didn't mention is that a lot of the AAA paper was made COMPLETELY out of sub-prime mortgages (not a mix of prime and subprime like the guy in this video mentions).
There was a CNBC segment that explained it well:
Subprime Derivatives
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