Ode to banksters. Bet against the American Dream

Bet Against the American Dream from Alexander Hotz on Vimeo.

Toxic assets get the full Broadway musical treatment. Gee, I wonder if by the time the hedge funds that made money betting against subprime mortgages become the subject of a Broadway showtunes (even if its only NPR) if it’s okay to lean the other way?

If you’re not sure of the story, this refers to the now-infamous Magnetar trade, where they created deliberately toxic slop from mortgages, got suckers to buy it, then shorted it with CDOs, making a fortune.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.