‘Sub-Prime’ Explained as Never Before

12 Nov, 2007 | Australian Values, Corruption, Economic Values, Humour, Values

 

“Too stupid to be real…”

 

If you only watch one online comedy sketch this year, (as we used to say (almost) at ABC Promos) this should be it. 
We promise. You will laugh…and perhaps cry at the same time,

If you ever wondered what was up with those “Sub-Prime Mortgages” and why they were creating such havoc in the financial world, the famous and hilarious British comedy team of John Fortune and John Bird will explain it all to you.

No, they really will.

It looks like comedy and it sounds like comedy and it all seems too stupid to be real. Surely it’s all made up. But you should know that the “High-Grade Structured Credit Strategies Enhanced Leverage Fund” is very real, and so is “Bear Stearns“.

“The people that lent all this money must have been incredibly stupid…

“Oh, no…no…no. The reality is that what was stupid is that at some point somebody asked how much money these houses were actually worth! If they hadn’t have bothered to ask that question everything would have gone on as perfectly normal…but unfortunately they did…”

Enjoy!

 

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