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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 w

by 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...

by esarbe 3y ago

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...