speaking of derivatives. . .
derryb
Posts: 36,585 ✭✭✭✭✭
Marriage insurance
"If marriage insurance sales take off, it's only a matter of time before Wall Street repackages it and sells it to investors via subprime marriage-backed securities. Did you see your neighbor with his mistress last night? Buy some MBS credit default swaps on him and tell his wife what you saw. Is your other neighbor away from home a lot? Buy some MBS insurance on his wife, seduce her, and when they get divorced, you can cash in. Does it sound preposterous? It's not any crazier than buying credit default swaps on poor people's mortgages and making $15 billion when they become homeless. Remember, everything is fair in the "free market.
"If marriage insurance sales take off, it's only a matter of time before Wall Street repackages it and sells it to investors via subprime marriage-backed securities. Did you see your neighbor with his mistress last night? Buy some MBS credit default swaps on him and tell his wife what you saw. Is your other neighbor away from home a lot? Buy some MBS insurance on his wife, seduce her, and when they get divorced, you can cash in. Does it sound preposterous? It's not any crazier than buying credit default swaps on poor people's mortgages and making $15 billion when they become homeless. Remember, everything is fair in the "free market.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
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I knew it would happen.