Citigroup is at it again!!

The market for collateralized debt obligations backed by high-yield, high-risk loans is poised to open in the U.S. for the first time in a year after losses on mortgages prompted investors to flee bundled securities.

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Robert Scheer: It's Greek to Goldman Sachs

Just as it did with mortgages in the U.S., Goldman in effect bet against the collateralized Greek debt obligations. The basic issue is the same.

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Drinking the Financial Innovation Kool-Aid

Financial innovation is not like any other kind of innovation in our economy. If you create a new IPod and it goes sour, it hurts Apple. Create a synthetic collateralized debt obligation that goes south, you crash the world economy.

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The Economics of Golf

Now that the public has been formally introduced to mortgage-backed securities and collateralized debt obligations, I thought our readers would like to know golf is doing its part to help the economy...

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