I assume no risk for this produce myself mark okay!
So let me get this straight the bank calls you up they give you the bonds they wanna sell they give you clients, they give you money to run your business, give you fat fee's for doing so but you represent the investors?
Is that right?
Yeah!
But we're not in the merrill-lynch building!
Ok, where are you?
We're in New Jersey!
You're twenty minutes away!
Five, if you use the helicopter!
That's funny eh?
That's hilarious!
Oh boy!
Your boss is about to explode!
No, he's too curious to explode!
Hold on, say that again!
Cdo a, has parts of cdo b and cdo b, has parts of cdo a and then they both get put inside cdo c.
Yeah and that one is called cdo square!
A cdo of a cdo!
Right?
And then there's cdo's made up of the opposite sides of the bet you made with the swaps we call them, synthetic cdo's what did you just say? Synthetic cdo's?
That is f***ing crazy!
It's not!
It's awesome!
His face is starting to boil he looks like the bad guy from doom alright, let's say... You have a pool of 50 million in sub-prime loans how much money could be out there betting on it in your synthetic cdo's and swaps?
