The sad tale of Mr. Mortgage-Backed Security

[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...

[midnight]

1. Coffeecat this is so excellent. America got a big collective cavity....

That perfectly explains the decaying of our banking trust....

[CoffeeCat]

4. and as we all know...

...being drilled is very painful! :)

[Angry Dragon]

2. if this country sees another bank bailout all bets are off

[CoffeeCat]

3. I don't see how we avoid another implosion...

I used a bit of loony humor to demonstrate that we are headed that way.

It seems so ridiculous, but it's reality.

Seriously. Where did all of those worthless derivatives and mortgage-backed securities go? They
are complex and there are trillions of dollars of them out there. Or at least they were out there
during the 2008 economic implosion.

Where'd they go?

And why in the hell are these banksters still trading them? And creating new ones?

I don't think most people understand that banksters are CURRENTLY engaging in the very behaviors
that imploded the economy in 2008.

The house of cards--was not fixed and is still a house of cards.

[Angry Dragon]

5. the derivatives are still there........ they never left

I have heard $75 trillion are still there and Dodd-Frank fixed nothing .......