-
and so many people with good enough jobs to buy them, right?
-
So the banks started filling these bonds
-
with riskier and riskier mortgages.
-
Thank you, Benter.
-
That way they can keep that profit machine churning, right?
-
By the way, these risky mortgages are called subprime.
-
So whenever you hear "Subprime", think
-
"Shit".
-
Our friend Michael Burry found out that these mortgage bonds
-
that were supposedly 65% AAA
-
were actually just mostly full of shit.
-
So now he's going to "Short" the bonds.