Rating Bonds and Subprime Mortgages

A fascinating look at the inner workings of the market for subprime mortgages, and the machinations of the groups involved in the industry.  Many good macroeconomic concepts are used; and the question of regulation vs deregulation of a particular kind of curious market discussed.  YOu can get into whether anyone’s conduct was unethical, and whether the palyers were simply using the rational economic approach.  It’s a quick intro to “financial engineering”.

Moody’s – Credit Rating – Mortgages – Investments – Subprime Mortgages – New York Times

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