From the end of 2005 until the middle of 2007, Wall Street firms created somewhere between $200 and $400 billion in subprime-backed CDOs: No
Between late 2005 and mid-2007, Wall Street companies engaged in the creation of subprime-backed collateralized debt obligations (CDOs), generating an estimated $200 to $400 billion. This financial activity marked a significant period of recklessness in the mortgage market, as firms sought to profit from high-risk loans despite potential consequences.
The surge in subprime CDOs played a critical role in the eventual financial crisis, as these complex securities linked to low-quality mortgages contributed to widespread economic instability. The actions of these Wall Street firms highlighted the dangers of excessive risk-taking and the consequences that ensued from prioritizing profit over prudent financial practices.
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