Come back to me in five years and tell me I’m still a fool, assuming you can afford a dime for the pay phone. :)
Bird & Fortune comedy bit on finances. At 2:40 they talk about sub-prime mortgages. “Dodgy Debt”. And overpriced mortgages on poor homes. And all of these mortgages get bundled into an “Investment Vehicle”.
“Why would people buy this “dodgy debt”?
“They have good names. Like ‘High Grade Enhanced Leveraged Fund’.
“Well - that sounds like a good investment.”
The entire bit sounds like this derivatives thing. Of course the failure of the mortgage market DID happen, and had long-lasting effects.
Comedy - but VERY close to the truth IMHO.