You approve a bunch of subprime mortgages, package those loans together into a CDO, then pay to get your CDO a “AAA” rating. Then you sell that CDO to a retirement fund, and take out a policy with AIG…
Ok, I lost you. Let me try again.
You buy a bunch of dogmeat. Then you pay somebody to label it prime rib. So you sell it as prime rib, and make big bucks, because dogmeat is cheap, but prime rib is expensive. That’s bad enough. But after that, you call up a bookie and place a bet on whether the person who eats the dogmeat you sold as prime rib will get sick or not. So that when they go to the hospital, you get paid.
Read my full review here.
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