On: Mortgages are a manufactured product (2022)

[JumpCrisscross]

> 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 → JumpCrisscross]

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 → Joel_Mckay]

> 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 → JumpCrisscross]

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/