CDOs are Banks ‘Egregious Concoctions’

Bill Gross,the legendary Bond Investor labelled Collaterised Debt Obligations or CDOs as Bank’s ‘Egregious Concoctions’

‘Egregious’ is an adjective that means ‘Outstandingly Bad’

The CDOs and the Credit Default Swaps or CDSs are the Devils that are will devastatingly demonize the Financial World in 2009…Outstandings at over US $ 650 Trillion….yes Trillion !….are over Ten Times the World’s aggregate GDP….Hundreds of Banks,with huge exposures, are going Belly Up fairly soon!….as a result of this Super Leverage !