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I'm sorry, but they were selling shitty sub-prime mortgages as AAA investments, my friend. They claimed high-risk mortgages would turn AAA by the magic of fina
by rmbyrro 4y ago
I'm sorry, but they were selling shitty sub-prime mortgages as AAA investments, my friend.
They claimed high-risk mortgages would turn AAA by the magic of financial and statistical shenanigans. That's not far from "zero initialized vector" shenanigans.
Investing in AAA securities is not speculation, by financial standards, by the way.
- NaturalPhallacy 4y ago>Investing in AAA securities is not speculation, by financial standards, by the way. I would argue that it is now after seeing the bullshit the ratings agencies pulled during that fleecing of the world.