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  • The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.

    Michael Lewis
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    Michael Lewis (2015). “The Big Short: Inside the Doomsday Machine (movie tie-in)”, p.88, W. W. Norton & Company
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The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold. - Michael Lewis
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