Spot on……
In 2015, several large banks began selling billions in something called a "bespoke tranche opportunity".
Which, according to Bloomberg News, is just another name for a CDO
If you have never watched "The Big Short" you should. If you have you this is a good time to watch it again, because entire Casino of Stupidity has been reloaded.
FWIW the movie gets an A- for historical accuracy, damn near a documentary.
It's free on screwtube btw https://www.youtube.com/watch?v=cvdjXCCHdSQ
#grownostr
Discussion
Bloomberg is occasionally accurate and not bias, and they are this time.