If you still don't understand what happened on Sub-Prime, or don't believe everything's that's being said, here is a video clip from Wall Street Journal that should explain it all.
It shows a shack in Arizona where the owners were loaned US$103,000, and this loan was subsequently packaged as Triple AAA i.e. top investment grade bond.
As the saying goes, "Seeing is Believing", and after this video, "You'd Better Believe it!"
Somewhere along the way, it stings of fraud, so why isn't anyone in jail for this?
It shows a shack in Arizona where the owners were loaned US$103,000, and this loan was subsequently packaged as Triple AAA i.e. top investment grade bond.
As the saying goes, "Seeing is Believing", and after this video, "You'd Better Believe it!"
Somewhere along the way, it stings of fraud, so why isn't anyone in jail for this?
Best wishes,
Ooi
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