In a study by the Pew Research Center, published May 12th 2009, from 1995 to 2008, Black and Hispanic families were more likely to borrow from the Sub Prime markets for a mortgage to finance the purchase of their home.
Corresponding to that same period, from 1995 to 2007, was the explosive growth in the issuance of Collateralized Debt Obligations, or CDO’s, a financial trading product whose value was derived from Mortgage Backed Securities, which represent a claim on the interest payments from a pool of mortgages.
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