Bank CDOs Are Rigged - Martin Armstrong on "The Big Short"

``This is the same thing they did in the CDOs that the film shows correctly. There was the underlying crash, but the banks would not lower the CDOs because they would have to pay. That was outright fraud. The banks are simply not trustworthy in such situations. Anyone who even thinks they are covered by a proprietary option the bank creates and prices is clearly immature and out of their mind.''