Forest Gump Explains the mortgage mess....

Mortgage and Lending with Your Financial Coach

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".


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Cindy Morus, Your Money Mending Partner

Sure does make it clear as a turd! Thanks for the explanation along witih a little chuckle.

Oct 27, 2008 10:46 AM #1
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Chuck Christensen

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