Speaking of Bear Stearns, I came across this article on Bloomberg about them trying to sell “Toxic Waste” CDOs to CalPERS and other pension funds. They are hawking these products as being safe, and they are offering a 20% return.
Da Counselor’s comment above used the term “shady” to describe certain Wall Street deals, and I cannot think of a better term. Well, unless you skip “unethical”, “loathsome”, and “contemptible”, that is.
