Post
By Cory Doctorow (GPG 0xBF3D9110957E5F4C)
doctorow.pluralistic.net
did:web:pluralistic.net
The whole point of collateralized debt obligations and swaps was to offer loans to people with bad credit - even loans they obviously couldn't pay back - without incurring a default risk.
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2026-07-25T11:07:15.356Z