CDOs spread around the world in the early 2000s. According to the PBS documentary “Money, Power and Wall Street” which of the following were big buyers of US mortgage backed CDOs but were also the first financial institutions to fail because of them?
a) Savings banks in the UK, especially in London.
b) Regional banks in Greece.
c) Money center banks in Ireland.
d) Landesbanks in Germany.
e) Small banks in Portugal.