Berkshire Hathaway Class B Message Board

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Non-Tech : Berkshire Hathaway Class B

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To: Jon Khymn who wrote (1486)	5/8/2003 12:16:50 PM
From: The Duke of URL©	Read Replies (1) of 1652

That article do go on and on. Greenspan likes derivatives BECAUSE HIS BANKS ARE SELLING THEM. Do you think they give a rat's pitooty what happens after they got their money? Jeeeeeeeez. Okay, let me explain it this way. Bank makes a home loan to you. They strip of the points and the servicing and package it up into a derivative which they sell to Fannie Mae. Fannie may strips out a truanch or two AND packages what is left and sells it to some some bond fund who sells it to some old lady who the bank's brokerage house convinces her to buy. THE BANK DOESN'T CARE IF YOU ALL LOSE MONEY. THAT IS WHY GREENSPAN LIKES DERIVATIVES. GET IT?

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