... launch and expand the market and, in turn, to further fuel the housing bubble.Second, CDS were essential to the creation of synthetic CDOs. These syntheticCDOs were merely bets on the performance ... ensure the safety and soundness of the nation’s banking and nancial system and to protect the credit rights of consumers.” It failed to build the retaining wall before it was too late. And the ... in-cluding the awed computer models, the pressure from nancial rms that paid for the ratings, the relentless drive for market share, the lack of resources to do the jobdespite record prots, and the...