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Of course, the whole thing is my fault, but since we're playing the blame others game, we left out the credit reporting agencies.These bad sub-prime loans were bundled in with AAA rated security instruments. As soon as they were bundled, what should have been junk rated securities suddenly became AAA rated credit instuments. They were then sold on the open market as if they were actually AAA rated securities.Just remember, although there seems to be plenty of blame to go around, it's really all my fault.
Of course, the whole thing is my fault, but since we're playing the blame others game, we left out the credit reporting agencies.
These bad sub-prime loans were bundled in with AAA rated security instruments. As soon as they were bundled, what should have been junk rated securities suddenly became AAA rated credit instuments. They were then sold on the open market as if they were actually AAA rated securities.
Just remember, although there seems to be plenty of blame to go around, it's really all my fault.
