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All men are mortal. My cat is mortal. Therefore my cat is a man.

Not all mortgage backed securities are subprime CDO squareds.

IMHO MBS is not as evil as it sounds. After all stocks are backed by even more fragile things.

Stocks aren't usually levered at more than 10:1, though. MBS are.

Don't worry everyone pays their mortgage...right?

Time to re-watch The Big Short again.