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In from the Solari Network
This came in from the Solari network today. It turns out that the common folk do indeed understand mortgage backed securities!
Forrest Gump Explains Mortgage Backed 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. 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 somebody 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 $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals who stole all the good chocolates, are not being investigated, arrested, or indicted.
“Mama always said: ‘Sniff the chocolates first, Forrest’.”
4 Comments
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Ah-Ha! Now I know what the economists mean by “a little doggy”. There is a nice little doggy that leaves a present on my lawn every morning!
Mama Gump also said-Stupid is as stupid does.
And it seems as if there is a lot of that going around too.
Along with the turds in the chocolates.
Please please please consider entering this contest: no body could explain it better.
http://www.slideshare.net/contest/credit-crisis-in-30-slides?from=email&type=newsletteroct08
Slide share contest in 30 slides: explain the current economic mess in 30 slides. This would give you so much more free publicity.
Consider it.
Kathy
I love it. This meme needs to be propagated by any means necessary: arrest and confiscate!