Introduction to the blog

So here it goes. I've worked in the credit markets (what used to be called fixed income) for more years than I care to admit, most recently originating CDOs. Everyone I know asks me what the heck is going on. I try to explain but it's a complicated and long story that tends to both bore and confuse the listener. There's no one bad guy. It's a complicated story that starts years ago and is just exploding now. It involves mortgage backed securities, credit derivatives, complex structures, rating agency models, mortgage bucket shops and a host of other large and small players. Oh and lax oversight, that too.

So I thought that maybe if I tried to write it down, organize it a bit, the story will come together and I won't spent fifteen minutes boring people trying to explain what's happening.