Well, on the IT side, yes

It's the sub-prime mortgages that are f**king everything in the US (in the UK too, but I forget what they call them). Essentially it's a fraud perpetrated by mortgage brokers selling to anyone, product developers attempting to hide the junk in CDOs and analysts vastly-overrating the derived bonds. Amazing (or perhaps not...) that experienced traders fell for it. And the Fed and ECB pump (our) money into the so-called free market!

It could go very bad for some very large institutions...

Posted By: BerlinCanary, Aug 22, 22:13:40