CDO Nightmare

I recently found this article about the CDO market that's worth your time if you own any stocks that securitize or are involved in subprime issues. It's important to understand the conflict of interest between the credit rating agencies and the issuers, and the subjective (stale!) pricing that delays the crash. There is still a lot of subprime mortgage crap out there that hasn't been marked down and liquidity is drying up.