Credit Cards Morph into Bonds

Here's a lecture by a journalist Paddy Hirsh to explain how credit cards become asset-backed securities...




... and here is Paddy back with a lecture on deleveraging:


Leveraging and deleveraging from Marketplace on Vimeo.
How credit cards become asset-backed bonds from Marketplace on Vimeo

All of “The Marketplace Whiteboard” videos can be accessed at www.marketplace.org.