Dana El-Kurd

They're also selling you the credit default swaps with the loan.

So theoretically what's happening is like they've created an instrument that regardless of what happens to the loan, you make money.

Yeah.

And nobody was like, wait, well, I mean, a couple, some people were, but like, like people didn't just be like, wait, hold on.

No, obviously you can't make an asset that makes money regardless of whether the thing fails or not.

I invented a money machine.

Like that's fucking ridiculous.

And then eventually, yeah, it was like, no, they ran out of fucking mortgages.

You know, one of the ways that the blame for this was deflected onto regular people was that they blamed the banks or like they blamed regular people for like not being able to pay the mortgages.

But the thing is, by the time you get to the point where you're like packaging all that, you're betting on the mortgages, right?

If you're a bank, even if you're the regular bank, you don't make money off of like someone paying their mortgage back.

You make money on betting on the mortgages.

So you're incentivized to just keep giving out loans you know won't happen because you can sell those loans off to some other dipshit, and then you can bet on those loans that they're going to fail.

And you can make money, and that's how you make your money.

Yep.

I don't think that's good, Mia.

No, this was the entire fucking financial system.

And we just let these people stay in power.

And I'm just supposed to just continue living my life like this?

I don't know.