Illustration of how the CDO bonds were manipulated

The following link will take you to an article which will illustrate how the collaterized bond obligation (CDO) was manipulated. I suggest that you download in and print it in order to understand it.

http://docs.google.com/fileview?id=0B8-ofA03F4YBZjRiMWJmMTMtMWM2MS00MGM3LWJmOWItOWIzZmJmYzUxZGU0&hl=enYtNTI1NThhYTdiZTZh&hl=en