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This question pertains to the financial collapse that hit Wall Street in 2008 and the subsequent world financial markets. In March 2008, Mr.
(Hints: 1) What types of banks does the Fed regulate? 2) Prior to March 2008, what kind of collateral does the Fed require when a commercial bank comes to the Discount Window to borrow funds?)
(Hint: Who are holding these CMOs? Please note that CMOs are also categorized as Collateralized Debt Obligations or CDOs