Mortgage Space News Today : Breaking News, Live Updates & Top Stories | Vimarsana

With a client base of ordinary people consumers. this is a professional market with not just sophisticated, but people who are dedicated to managing assets in the mortgage space who frankly were making their own decisions about what they wanted to own. >> there are many who listen to this, but still feel that the stuff shouldn't exist. why do these cdos exist. why do synthetic cdos exist? it does feel as john mccain said like gambling, like you're taking bets of the direction of the security. no one is getting a loan because of a synthetic cdo that you are creating. >> let me explain and at th...

Accumulated, in 2008 for example, we lost a billion seven on residential securities because even though some of these securities had gone down in value and the crisis we thought had run its course and we were prepared for a rebound, we were wrong. but there's no doubt that there was -- in getting back to your question, that there were observations made by certain people. look, 20 million pieces of paper were taken from goldman sacks where people were making observations at the time that we didn't like this security or this one was weak, but other people thought it. and again with the tweinvest...