CDO - Question
My teacher told the class that CDOs were created by banks to compete with Fannie and Freddie since they were issuing MBS. Is this true? I have a hard time believing anything this guy says considering he told us that CDOs were only made up of subprime mortgages and when I disagreed he told me I'm wrong.
http://lmgtfy.com/?q=creation+of+CDOs
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