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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 lea… - Michael Lewis
" "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.
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About Michael Lewis
Michael Lewis (born October 15, 1960) is an American contemporary non-fiction author and financial journalist. He is currently a contributing editor to Vanity Fair.
Biography information from Wikiquote
Also Known As
Alternative Names:
Michael M. Lewis
•
Michael Monroe Lewis
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Additional quotes by Michael Lewis
Why, between the dark pools and the public exchanges, were there nearly sixty different places, most of them in New Jersey, where you could buy any listed stock? Why did the public exchanges fiddle with their own pricing so often—and why did you get paid by one exchange to do exactly the same thing for which another exchange might charge you?
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