In 2008 our country’s entire banking and financial system came to a screeching halt as we realized that the exotic debt instruments that had been created to finance the housing bubble, were possibly, a little too exotic. These Collateralized Debt Obligations, were packaged up and sold to large banking institutions as “Sure Things”, and in the end, caused the bankruptcy of multiple different financial firms. Well, happy 10 year anniversary! To read more, click here: http://www.mycitymag.com/happy-anniversary-financial-crisis/
