Forrest Gump explains the mortgage mess...
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'.
The bailout, a different perspective - Back in 1990, the Government seized
the Mustang Ranch 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? . . . . amen!
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'.
The bailout, a different perspective - Back in 1990, the Government seized
the Mustang Ranch 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? . . . . amen!
