Although Krugman's economics don't always make sense, this little gem is right on (edited for clarity):
Q.) What do you get when you cross a Mafia don with a bond salesman-dealer in collateralized debt obligations (C.D.O.’s)?
A.) Someone who makes you an offer you don’t understand.
If you know from CDOs, you get the joke.
If you don't know from CDOs, you may lose your pension.
HT: CalculatedRisk
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