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."
In 2004, Rady Ananda joined the growing community of citizen journalists. Initially focused on elections, she investigated the 2004 Ohio election, organizing, training and leading several forays into counties to photograph the 2004 ballots. She officially served at three recounts, including the 2004 recount. She also organized and led the team that audited Franklin County Ohio's 2006 election, proving the number of voter signatures did not match official results. Her work appears in three books.
Her blogs also address religious, gender, sexual and racial equality, as well as environmental issues; and are sprinkled with book and film reviews on various topics. She spent most of her working life as a researcher or investigator for private lawyers, and five years as an editor.
She graduated from The Ohio State University's School of Agriculture in December 2003 with a B.S. in Natural Resources.
All material offered here is the property of Rady Ananda, copyright 2006, 2007, 2008, 2009. Permission is granted to repost, with proper attribution including the original link.
"In a time of universal deceit, telling the truth is a revolutionary act." Tell the truth anyway.
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