Forrest Gump Explains Mortage Backed Securities

[the fisherman]

Mortage Backed Securities are like boxes of Choclates, criminals on Wall St. stole a few of the Choclates from the boxes and replaced them with Turds. Their criminal buddies at Standard and Poors rated these boxes AAA Investment Grade Choclates. These boxes were sold all over the world to investors. Eventually somebody bites into a Turd and discovers the crime. Suddenly nobody trusts Americam Choclate anymore world wide. Hank Paulson now wants American Taxpayers to buy up all the Turd infested Choclates for 700 billion dollars until the market for Turds returns to normal. Meanwhile, Hank's buddies, the criminals on Wall St. are not being investigated. Mama always said: "Sniff the Choclates first Forrest"

 

[Tomas Tierra]

If they split up the 700 BIL between all of us ("Americans"),
its something like $295,000 each....not bad, or you could have a turd...

 

[Curmudgeon]

If they split up the 700 BIL between all of us ("Americans"),
its something like $295,000 each....not bad, or you could have a turd...
I think you need a little practice with your math. The figure would be more like $2000 each.

JP

 

[DirtyDog]

I read that while AIG failed and the government was bailing them out, executives were still taking 6 figure vacations and retreats paid for by the company. It was so bad that the New York attorney general threatened legal action against them if they didn't start acting appropriately. Individuals like this need to be excluded from the benefits of any bailing out by the American taxpayers.

Anyway, good one Fisherman, sounds about right.

 

[DLN]

Someone or something needs to take action against the thieves who started this mess and are still running away with the cash.

TT, we heard that same figure thrown out, but Curmudgeon is correct, $700,000,000,000 / 300,000,000 = $2,333. Really have to watch the Internet rumor mill with a critical eye.

 

[Tomas Tierra]

run forrest, run

$2300....Hey it's more than the stimulus check

Guess I need to pay better attention..to busy trying to catch fish.

 

[John D]

Forest Gump back in Alabama

Forest Gump is alive and well in Alabama. My hunting buddies from Gainesville know him. They say Forest made a lot of money in California real estate. He sold out last year and moved back home to Greene County.