4 ms·

It’s usually people with the least financial knowledge that rant the most and lie a lot too. Suddenly, mortgages have become a bad thing..

Joel_Mckay 2y ago
"Like everything else, it started off with great intentions" https://financialpost.com/financial-times/how-bonds-ate-the-entire-financial-system https://financialpost.com/financial-times/how-bonds-ate-the-... ..and people like you... easily swayed by sycophantic idealism, and irrational greed. Have a wonderful day, and please refrain from resorting to straw-man arguments and slander if you are feeling upset by facts. =3
- JumpCrisscross 2y ago
  You’re both wrong. I’ve worked with some of the people who invented these products and still had to double check your reference to make sure I was correct. I was—Milken didn’t popularise mortgage securitisation. Ranieri did.
  - Joel_Mckay 2y ago
    If you actually read the posted article it describes Lewis Ranieri's role in detail. There is no right or wrong here in my opinion... just history and documented facts validated through a vetted jury conviction. I wish it was an ill informed opinion kid... I really do... I'd feel much less guilty seeing families growing up in Condos the size of a garden shed.
    - JumpCrisscross 2y ago
      > There is no right or wrong here in my opinion You said “Michael Milken is the man that popularized mortgage securitization on wall-street.” That is wrong.
      - Joel_Mckay 2y ago
        He founded the risk market investment mechanism, and went to jail for what he tried next. Perhaps you personally need a finer granularity of assigned responsibility, but the product relationship is very clear for most observers. Best of luck =)
        JumpCrisscross 2y ago
        > He founded the risk market investment mechanism “Risk market investment mechanism” is gibberish. Milken did not ”[popularize] mortgage securitization”. Ranieri was at best his contemporary; he was not inspired by Milken. Your own article is a good source on this. > read the article I recommend Fabozzi’s Fixed Income as an introductory text if you’re drawing the (incorrect) conclusions that you are from that FT article.
        Joel_Mckay 2y ago
        Whoops, my mistake... been a few years since reviewing the story... its hard to keep all their sins in order... given the volume. I feel terrible... really I do... Have a wonderful Monday. =3 https://www.usdebtclock.org/ https://www.usdebtclock.org/

Joel_Mckay 2y ago

"Like everything else, it started off with great intentions" https://financialpost.com/financial-times/how-bonds-ate-the-entire-financial-system https://financialpost.com/financial-times/how-bonds-ate-the-... ..and people like you... easily swayed by sycophantic idealism, and irrational greed. Have a wonderful day, and please refrain from resorting to straw-man arguments and slander if you are feeling upset by facts. =3

JumpCrisscross 2y ago
You’re both wrong. I’ve worked with some of the people who invented these products and still had to double check your reference to make sure I was correct. I was—Milken didn’t popularise mortgage securitisation. Ranieri did.
- Joel_Mckay 2y ago
  If you actually read the posted article it describes Lewis Ranieri's role in detail. There is no right or wrong here in my opinion... just history and documented facts validated through a vetted jury conviction. I wish it was an ill informed opinion kid... I really do... I'd feel much less guilty seeing families growing up in Condos the size of a garden shed.
  - JumpCrisscross 2y ago
    > There is no right or wrong here in my opinion You said “Michael Milken is the man that popularized mortgage securitization on wall-street.” That is wrong.
    - Joel_Mckay 2y ago
      He founded the risk market investment mechanism, and went to jail for what he tried next. Perhaps you personally need a finer granularity of assigned responsibility, but the product relationship is very clear for most observers. Best of luck =)
      - JumpCrisscross 2y ago
        > He founded the risk market investment mechanism “Risk market investment mechanism” is gibberish. Milken did not ”[popularize] mortgage securitization”. Ranieri was at best his contemporary; he was not inspired by Milken. Your own article is a good source on this. > read the article I recommend Fabozzi’s Fixed Income as an introductory text if you’re drawing the (incorrect) conclusions that you are from that FT article.
        Joel_Mckay 2y ago
        Whoops, my mistake... been a few years since reviewing the story... its hard to keep all their sins in order... given the volume. I feel terrible... really I do... Have a wonderful Monday. =3 https://www.usdebtclock.org/ https://www.usdebtclock.org/