Also: the mortgage industry as arms dealers in a bidding war -- and the proceeds of the bidding war don't even go to the counterparties of the contract being so

Also: the mortgage industry as arms dealers in a bidding war -- and the proceeds of the bidding war don't even go to the counterparties of the contract being sold! People marvel at how successful the greedy optimization algorithm of our economy is at finding local optima, but when you take a step back the emperor has no clothes. Sigh.