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The sad tale of Mr. Mortgage-Backed Security [View All]

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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-16-11 12:13 AM
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The sad tale of Mr. Mortgage-Backed Security
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Edited on Wed Nov-16-11 12:18 AM by CoffeeCat
Remember Mr. Mortgage-Backed Security from the 2008 housing implosion and global financial
meltdown?

$ $
---

We all know him! He was the little guy who enriched the friendly bankers with billions and billions of dollars. Oh what
fun the banks had with Mr. Mortgage-backed security! He was a very popular boy!

Remember the joyous details of Mr. Mortgage-backed security?

He was a confusion mix of totally worthless mortgages (black licorice)---and good mortgages (lemon drops). This scary and
sweet concoction was spun into a delicious, profit-dripping investment tool that sold like spongy hotcakes dripping with money syrup.

Mmmmm! Mmmmm! Oh so yummy for the banker billionaires!

Boy oh boy, did the banks sell a whole lot of Mr. Mortgage-backed securities! So many that the giant money bags at the
banks were overflowing as far as the bankers eyes could see. Oh how happy Mr. Mortgage-backed security made
the carefree, champagne-drinking bankers!

Although Mr. Mortgage-backed-security was sweet on the outside--he was a troubled asset on the inside. Upon close inspection, he wasn't worth the spit on the banksters snake-skin penny loafers. Oh no! With bad mortgages rolled
into the good mortgages--and the confusion and complexity of it all---BOOM!!

America got a big collective cavity on its economic bicuspid! Oh no---not the big drill!

Mr. Mortgage-backed security infected the people of US Land, and they were left with no choice! They had to get painful
fillings--without any laughing gas or Novocaine. Boy, did it hurt! So sad for the people in US Land.

So---does anyone know--what happened to Mr. Mortgage-backed-security? He was deemed worthless--but he lived
on the books of ALL of the too-big-too-fails that are STILL out there!

Where did he go?

Does he still frolic on the bank books? Or has he disappeared?

It is rumored in US Land--that the banks are AGAIN cavorting with Mr. Mortgage-backed-security--and that another sugary
implosion of the US Land economy and banking system--is not only likely--but nearly inevitable.

Oh no! Not another root canal!

So, there was no "THE END" to the story of Mr. Mortgage-backed-security. It appears that he is alive and well--and that
the people in US Land will be returning to the dentist for more painful procedures...very soon.

To be continued...
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