Mortgage Backed Securities (MBS) and Collateralized Debt Obligations (CDO)
Many brokerage firms marketed and sold mortgage backed securities and collateralized debit obligations as being safe, highly liquid and providing a higher stream of income to investors. Many investors were also led to believe that the investments were backed by the federal government. In reality, the MBS and CDOs were speculative, illiquid and high risk. During the subprime mortgage crisis, individuals holding MBS and CDO sustained substantial losses.
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