GT400SC
PM for Decals
This is the best explanation I''ve heard.
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''.
Quote of the day from a fund manager:
''This is worse than a divorce... I''ve lost half of my net worth and I''m
still married..''
The bailout, a different perspective:
Back in 1990, the US Government seized the Mustang Ranch, A brothel in Nevada
for tax evasion and, as required by law, tried to run it. They failed and
it closed. Now we are trusting the economy of our country to a pack of
nit-wits who couldn''t make money running a whore house and selling booze?
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''.
Quote of the day from a fund manager:
''This is worse than a divorce... I''ve lost half of my net worth and I''m
still married..''
The bailout, a different perspective:
Back in 1990, the US Government seized the Mustang Ranch, A brothel in Nevada
for tax evasion and, as required by law, tried to run it. They failed and
it closed. Now we are trusting the economy of our country to a pack of
nit-wits who couldn''t make money running a whore house and selling booze?
lol
