If you've listened to Financial Crisis 101, below, then you know the vocabulary: subprime mortgages, derivatives, CDOs, and CDSs (and hopefully had a good time learning it). Now... hear how some clever analysts recognized the problems with subprime mortgages/ CDOs and talked the big investment houses into creating CDSs in order to bet against them. Some of these guys even tried to warn the SEC that there was a big storm a'comin'.
Michael Lewis talks about this in his new book "The Big Short: Inside the Doomsday Machine" which he discusses on KQED's 'Forum' radio program. It's definitely worth a listen!
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