Wednesday, February 20, 2008

Yeah, I'm Buying a House This Month...

TMF: Grand conspiracy theory. / MBIA Incorporated (MBI)
The geniuses on Wall Street realized that by 'repackaging' risk (translation: hiding), they could take risky debt (telecom debt, home equity, credit card, and automobile receivables) and sell it to the unwitting public. The motive? Capture the risk premium and siphon it off, while transferring the risk somewhere else. Brilliant - utterly brilliant.

MDA is still in the quiet period so no comments about that, okay?

3 comments:

Amber said...

/ahem/ Don't you mean "WE'RE buying a house this month?

killy said...

yeah, BOTH of your wrists are going be sore after signing all that paperwork. Congratulations!

pablo said...

Congratulations to both of you! This is great news. I hear tell that you and the Taggarts will be neighbors to boot!