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posted 4 years, 3 months ago
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Your guests said that in 2004 you determined the OPIGX (Oppenheimer Core Fund) to be a prudent and wise fund for a conservative investment. He also stated that nobody could foresee the downturn in high-risk mortgage based securities which the fund was so immersed in. GIVE ME A BREAK. As a former Lehman employee and as an market forecaster of only 6 years I can tell you that it was more than obvious what was eventually going to happen. The only thing initial holders of these securities were concerned with was making them look profitable, guaranteed, and selling them to the poor schmucks who were gullible enough to buy bad debt. Putting lipstick on a pig won't change the fact that it's still a pig. This is yet another example of how deep these quick profit, mortgage backed securities are penetrating even what is suppose to be the "safest" of investments.

posted 4 years, 3 months ago
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