Wall Street started moving to Greenwich and Stamford in Connecticut after 9/11. Staff had an easy commute from Grand Central; honchos got to live near their Greenwich megahomes. Recent arrival: Royal Bank of Scotland's massive new trading arena.
Reporter Teri Buhl has the good luck to cover the Greenwich and Stamford goings-on. Here she offers a close-up example of why the subprime mortgage mess is so difficult to clean up: Tranche warfare goes to court.
Stories such as this reinforce the notion that there are two types of people: Those who admit they don't understand derivatives and liars.
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