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Unformatted text preview: 1- - - - - - - - - - - - - - - - - - - - - - -234Sure, no problem. Umm, theres one thing my employer is kind of a jerk and might not verify my employment. Would that be a problem?You guys are awesome! Lets get started!56Id better get rid of these mortgage loans. Theyre starting to stink up my office. Thankfully, the really smart guys in New York will buy them and perform their financial magic! 78Phew!!! Wed better get rid of these stinky mortgages before they start attracting flies!Boss, who would buy this stuff???9Ive got it! First, well create a new security with these stinky mortgages as collateral. Well call it a CDO, and we can sell it to investors and promise to pay them back as the mortgages are paid off.10But no matter what you call them, stinky mortgages are stinky mortgages, arent they?11Maybe individually, but only some of them will go bad --- certainly not...
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This note was uploaded on 09/25/2010 for the course ACCY 302 taught by Professor Chen during the Fall '09 term at University of Illinois at Urbana–Champaign.

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