Bear Stearns Traders Had Cute Names for Toxic Mortgage Products


Bear deal manager Nicolas Smith wrote an e-mail on August 11th, 2006 to Keith Lind, a Managing Director on the trading desk, referring to a particular bond, SACO 2006-8, as ‘SACK OF SHIT [2006-]8’ and said, ‘I hope your [sic] making a lot of money off this trade.’” [Atlantic]