The real culprits behind the meltdown
Posted by pennywit on March 18, 2008
This morning, a colleague of mine forwarded me the documentation for the mortgage-backed securities that Bear Stearns held. After rifling through the papers, I found out why they ran into trouble.
Turns out that they held securities for mortgages on Whiteacre, Blackacre, Yellowacre, Redacre and Blueacre. As any law student or graduate knows, owning those properties is a recipe for trouble.