Shared to me by my LoveBird
Forrest Gump Explains Mortgage Back Securities
Mortgage Backed Securities are like boxes of chocolates.
Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds in plain sight of dishonest politicians in Washington.
Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates.
These boxes were then sold all over the world to investors. Eventually the average taxpayer
bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $750 billion dollars until the market for turds returns to normal.
Meanwhile the Wall Street criminals and banks who stole all the good chocolates are not being investigated, arrested, or indicted.
Why? Because Congress had Freddy Mac and Fannie Mae manufacture the turds in the first place.
Mama always said: 'Sniff the chocolates first, Forrest'.
Forrest is smarter than 99% of all the politicians.
Best way I've seen it 'splained yet.
Mortgage Backed Securities are like boxes of chocolates.
Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds in plain sight of dishonest politicians in Washington.
Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates.
These boxes were then sold all over the world to investors. Eventually the average taxpayer
bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $750 billion dollars until the market for turds returns to normal.
Meanwhile the Wall Street criminals and banks who stole all the good chocolates are not being investigated, arrested, or indicted.
Why? Because Congress had Freddy Mac and Fannie Mae manufacture the turds in the first place.
Mama always said: 'Sniff the chocolates first, Forrest'.
Forrest is smarter than 99% of all the politicians.
Best way I've seen it 'splained yet.