When the power of love overcomes the love of power the world will know peace.
I finally figured out why our economy looks like the Wicked Witch of the West after a shower. You take a debt, securitize it and turn it into an asset. Then you leverage this “asset” at a ratio of 30:1 to create even more debt, all of which is supported by squat!
If I could pull a 30:1 leverage on my mortgage, I could plunge $3,180,000 into debt.
This isn’t a credit freeze; it’s a return to credit sanity.