7.
Fund managers who knew the reality of CDOs insured it and gained huge amount of money. Due to this, people stopped buying CDOs, and Investment Banks which have collected them were running in losses. Every participant forming a part of the chain was now suffering losses.
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An artist, writer, storyteller too and Entrepreneur. Founder of Formaculture, a young community for young ideas and socio entrepreneur, a science student with a finance community - WEALTHONOMY.
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