The baddest banker of the lot is the one that didnt get caught out.
There is a good story about the guy who made millions in the property boom and went out an bought RBS shares!
Possibly that the AAA rated CDOs are not available at 8% anymore and the bond traders and portfolio managers need another cash cow to milk!
The whole story has been such a comedy of errors so far, why not just try the obvious answer. Afterall those cdos did have debt mixed in them from...