Lehman: CDOs Rule! CDOs Suck!

Here, via Wikiscanner, is some subprime-related fun at Lehman Brothers’ expense. In early July of this year, just before the subprime shit the fan, someone at Lehman felt it would be timely to edit the collateralized debt obligation (CDO) Wikipedia entry to say that CDOs are the “best performing asset class of all time”.

With subprime melting down, however, he/she apparently had to recant quickly. A scant two minutes later he/she deleted the phrase.  Damn, things were moving fast.