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>BlackRock is a significant investor in mortgage securities, helping make capital available to individuals and families seeking to purchase homes. Anybody else

by 34679 3y ago

>BlackRock is a significant investor in mortgage securities, helping make capital available to individuals and families seeking to purchase homes. Anybody else reminded of the scene from The Big Short with the stripper talking about all the properties she has loans for?

missedthecue 3y ago
No because I don't have a Pavlovian response to the phrase "mortgage securities", trained only on surface-level knowledge of a Ryan Gosling film.
- deleted 3y ago
  [deleted]
- Charlie_26 3y ago
  [flagged]
- esarbe 3y ago
  They didn't say that they have a Pavlovian response to the phrase "mortgage securities", trained only on surface-level knowledge of a Ryan Gosling film. They were simply reminded of the scene from The Big Short with the stripper talking about all the properties she has loans for. Why the need for hyperbole?
  - cko 3y ago
    It seems to be a hyperbolic reaction to be reminded of an overleveraged stripper in a movie any time one thinks of a mortgage.
    - esarbe 3y ago
      They didn't write they were reminded reminded of an overleveraged stripper in a movie any time they thinks of a mortgage. That's pure speculation, or worse; insinuation.
      - cko 3y ago
        (I'm reading the original comment a couple times and I'm wondering if I'm being trolled.) Mortgages frequently get bundled up and sold as securities. That's just how it works. Blackrock is one institutional buyer. A mortgage is someone's liability and another's security. Nothing about "mortgage securities" implies poor lending practices or overleveraging.
        esarbe 3y ago
        I'm not trying to troll. But I admit I'm slightly annoyed by the bad faith in the conversation; that is something I'd expect on Reddit, not HN.
        cko 3y ago
        Admittedly the reply was a harsh way of saying "learn how the system works beyond a pop culture level understanding."
        esarbe 3y ago
        And that's where I see the "bad faith" in the conversation. Why make a jump from "You are reminded of this scene" to "You don't understand how the system works"? Even if we assume that one follows from the other (it doesn't, that's more than disingenuous) - than the way this was phrased is unnecessarily combative, aggressive and derogatory.
        doc49j 3y ago
        Some one hasn't heard about FIRE https://en.m.wikipedia.org/wiki/FIRE_economy https://en.m.wikipedia.org/wiki/FIRE_economy https://michael-hudson.com/2019/10/asset-price-inflation-and-rent-seeking/ https://michael-hudson.com/2019/10/asset-price-inflation-and...
mistrial9 3y ago
one of the largest Federal criminal prosecutions of nonprofits in US history was after the 1980s Savings and Loan scandal.. where some "bankers" colluded to drain national mortgage insurance assets (a social program setup to enable first time home purchases, and other stabilizing programs, across the US). Anecdotal evidence suggests substantial amounts of collusion occurred during a particular Playboy-sponsored golf series !
IvanAchlaqullah 3y ago
I think this scene is more relevant, especially after reading the "purpose-built for-rent" line: "I don't get it. Why are they confessing?" "They're not confessing. They're bragging."

by 34679 3y ago

missedthecue 3y ago

No because I don't have a Pavlovian response to the phrase "mortgage securities", trained only on surface-level knowledge of a Ryan Gosling film.

deleted 3y ago
[deleted]
Charlie_26 3y ago
[flagged]
esarbe 3y ago
They didn't say that they have a Pavlovian response to the phrase "mortgage securities", trained only on surface-level knowledge of a Ryan Gosling film. They were simply reminded of the scene from The Big Short with the stripper talking about all the properties she has loans for. Why the need for hyperbole?
- cko 3y ago
  It seems to be a hyperbolic reaction to be reminded of an overleveraged stripper in a movie any time one thinks of a mortgage.
  - esarbe 3y ago
    They didn't write they were reminded reminded of an overleveraged stripper in a movie any time they thinks of a mortgage. That's pure speculation, or worse; insinuation.
    - cko 3y ago
      (I'm reading the original comment a couple times and I'm wondering if I'm being trolled.) Mortgages frequently get bundled up and sold as securities. That's just how it works. Blackrock is one institutional buyer. A mortgage is someone's liability and another's security. Nothing about "mortgage securities" implies poor lending practices or overleveraging.
      - esarbe 3y ago
        I'm not trying to troll. But I admit I'm slightly annoyed by the bad faith in the conversation; that is something I'd expect on Reddit, not HN.
        cko 3y ago
        Admittedly the reply was a harsh way of saying "learn how the system works beyond a pop culture level understanding."
        esarbe 3y ago
        And that's where I see the "bad faith" in the conversation. Why make a jump from "You are reminded of this scene" to "You don't understand how the system works"? Even if we assume that one follows from the other (it doesn't, that's more than disingenuous) - than the way this was phrased is unnecessarily combative, aggressive and derogatory.
      - doc49j 3y ago
        Some one hasn't heard about FIRE https://en.m.wikipedia.org/wiki/FIRE_economy https://en.m.wikipedia.org/wiki/FIRE_economy https://michael-hudson.com/2019/10/asset-price-inflation-and-rent-seeking/ https://michael-hudson.com/2019/10/asset-price-inflation-and...

mistrial9 3y ago

one of the largest Federal criminal prosecutions of nonprofits in US history was after the 1980s Savings and Loan scandal.. where some "bankers" colluded to drain national mortgage insurance assets (a social program setup to enable first time home purchases, and other stabilizing programs, across the US). Anecdotal evidence suggests substantial amounts of collusion occurred during a particular Playboy-sponsored golf series !

IvanAchlaqullah 3y ago

I think this scene is more relevant, especially after reading the "purpose-built for-rent" line: "I don't get it. Why are they confessing?" "They're not confessing. They're bragging."