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Reply #245: That reminds me of this story about how banking is like a box of chocolates... [View All]

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althecat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-18-08 04:27 PM
Response to Reply #244
245. That reminds me of this story about how banking is like a box of chocolates...
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, Hanks 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.

Source
http://solari.com/blog/?p=1694
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