I was trying to explain CDO’s to someone last week, and I wish I had this graph. If you don’t understand it, scope the source.

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Source:
Riding the Crest
The Crash: What Went Wrong?
Washington Post, October 15, 2008
http://www.washingtonpost.com/wp-dyn/content/graphic/2008/10/15/GR2008101501040.html

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