Read it here first: The CDO-Enron Connection

In Paul Krugman’s NYT’s OpEd column this morning, he compares the CDOs with Enron  and wonder’s where the ratings agencies were during the subprime expansion:

"Seriously, it’s starting to look as if C.D.O.’s were to this decade’s housing bubble what Enron-style accounting was to the stock bubble of the 1990s. Both made investors think they were getting a much better deal than they really were. And the new scandal raises two obvious questions: Why were the bond-rating agencies taken in (again), and where were the regulators?"

Regular Big Picture Readers will recall last week’s posts on each of these subjects:

CDO Hedge Funds = Enron ?
    and
10 Questions About CDOs
 

I’m just sayin’ . . . 

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