'New book explains housing meltdown as Financial Origami'

from usatoday........

"In Financial Origami: How the Wall Street Model Broke,Brendan Moynihan argues that origami is what Wall Street does in creating financial products. Bankers take stocks, bonds and insurance contracts and fold them into new, complex financial instruments.


The ultimate act of Financial Origami came as a result of Main Street's inability to supply enough mortgages to feed the ravenous appetite of CDO managers, Moynihan says.Moynihan demystifies a complex subject, giving the uninitiated a tool of understanding how too much debt and leverage destroyed a time-tested business model.
New rules are on their way, and it will be interesting to see how Wall Street will find ways to skirt them"..................LINK