Very concise analogy to the "bond rating scam" that was the back end of the housing ponzi scheme.
Also summarizes the "do anything for a buck to retire by 30 without doing anything useful" crowd whose illustrious membership will help fill in the ever growing soup lines. So let's see the army of scammers and con artists will indeed be "retired" and will have produced nothing of value in becoming that way. Mission accomplished!
The idea of mitigating risk by aggregating a bunch of diseased "cows" together as an investment is also analogous to the way tranching systems in (subprime) mortgage based CDO's are set up. It's all math! Bad math, as it turns out.
Comments
Very concise analogy to the "bond rating scam" that was the back end of the housing ponzi scheme.
Also summarizes the "do anything for a buck to retire by 30 without doing anything useful" crowd whose illustrious membership will help fill in the ever growing soup lines. So let's see the army of scammers and con artists will indeed be "retired" and will have produced nothing of value in becoming that way. Mission accomplished!