293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

1321.087 - 1347.298 Doyne Farmer

And that was because mortgage-backed securities, almost everybody globally was holding them. Foreign institutions were holding US mortgage-backed securities because they were the hot new thing, great investment, low risk, high return, hooray, hooray. But what they didn't realize is when the housing bubble popped, that meant that all those mortgage-backed securities got enormously