Thursday, December 06, 2007

Felix Salmon and friends have a beautiful interactive illustration on CDOs

here. Some of the best minds at my first bank, Salomon Brothers, were dedicated to mortgage backed securities. The pioneer of this new investment space was Lewis Ranieri, who literally started out of the mail room, and his ideas extended past mortgages to credit cards, auto loans, and other financial innovations.

I think the minds in this space has diluted a bit in the last couple of decades.

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