Sunday, October 31, 2010

Selling oregano as weed

It's Morning In 'Griftopia': "they said the reason everybody got a mortgage is because the government was forcing banks to lend to people. That wasn't the real explanation. The real explanation was that the banks had figured out a way to take these subprime mortgages, chop them up into little bits, and then repackage them as AAA-rated investments and sell them to people who didn't know what they were. It's basically like selling oregano as weed. What's the first thing you do when you find out you can get away with that? You go out and buy or grow more oregano." - Author Matt Taibbi

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