Osinski's "Manhattan Project"

The following link is an article by Michael Osinski, one of the main people responsible for developing and implementing the means to repackage mortgages into traditional bonds (so they could be resold), then into CDO's allowing for various levels of risk.

"My Manhattan Project"

Many parties share responsibility for what has happened in our mortgage markets, but I believe this article displays something important in core statistical understanding that contributed to this mess.