C.P.D.O.: a new way for banks to gamble with your money
Just when you think you’ve seen the height of Wall Street’s folly and corruption, a new level of reckless plunder emerges from the ooze. In 2006 ABN Amro, a Dutch bank, invented a new way for huge money barons to invest (gamble) their (our) millions. It’s called a C.P.D.O, or constant proportion debt obligation. A…