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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (30862)	8/10/1998 10:21:00 PM
From: yard_man	Read Replies (1) of 132070

I thought it had to be a highly leveraged derivative of some kind. I suppose that most of the instruments are like options in that they are designed to allow one with mortgages or bonds to hedge away some of the risk of holding these, but these guys instead were speculating (not hedging) and not being very smart at it either. I'm really ignorant when it comes to all the ways that mortgage debt, or debt in general, is repackaged and sold. IS there something I could read to learn a little bit more in this area?

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