Barron's reporter Jacqueline Doherty examines the far reaching impact that subprime has on the "trillions of dollars of securities that are based directly and indirectly on subprime mortgages. There are subprime residential mortgage-backed securities (RMBS), derivatives on subprime RMBS, collateralized debt obligations (CDOs) that buy subprime RMBS and/or the derivatives on the RMBS."
Bottom line: The subprime-mortgage meltdown isn't over yet. 9% mortgage rates?
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