Forrest Gump Explains Mortgage Backed Securities November 21, 2008
Posted by Michael in Crime, Humor.trackback
Now circulating on the intertubes. Thanks to Cathy for sharing this.
Mortgage Backed Securities are like a box of chocolates. Bad people in Washington and on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their buddies at Standard & Poors rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world. Eventually somebody ate a turd. Suddenly nobody trusted American chocolates any more.
Somebody named 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.
Mama always said: “Sniff the chocolates first, Forrest”.
Looks like Forrest has been running through some turds.
Been saying it for years: You can spread chocolate frosting on a doggie turd, but it’s still a doggie turd.
I remember when suitcases looked like that.