Friday, September 7, 2007
CDO Losses Cannot be Quantifed
Warren Buffett called derivatives financial weapons of mass destruction. I quote him just so you don't think I am just a non-stop worrywart fretting about every little sound in the dark. This article by France's regulator that CDO losses can't be quantified does nothing to change my mind about it that's for sure. Please read through the article. The losses can't be quantified. I read it twice just to make sure I was actually reading what I thought I was reading.