As I understand it, Chuck, the sub-primes were packaged with other
investments at varying levels of risk. The risks were apparently
indeterminate, a different sort of idiocy, I think.
Chris
On 3 Nov 2008, at 22:12, Chuck Norcutt wrote:
> If investors acted like idiots when they originally bought all those
> high risk, sub-prime, US mortgage securities what makes you think they
> would act any more intelligently today? :-)
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