_how-credit-cards-become-asset-backed-bonds.jpg "How credit cards become asset-backed bonds from paddy Video Screenshot Preview")
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⏲ Duration: 4 min 78 sec
✓ Published: 26-Nov-2008
✓ Published: 26-Nov-2008
Description:
Mortgages aren’t the only financial instruments that get turned into securities. Marketplace Senior Editor Paddy Hirsch explains how companies make money by buying credit card debt and bundling it. More coverage of the financial crisis is at marketplace.org/financialcrisis
Mortgages aren’t the only financial instruments that get turned into securities. Marketplace Senior Editor Paddy Hirsch explains how companies make money by buying credit card debt and bundling it. More coverage of the financial crisis is at marketplace.org/financialcrisis
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