This insanely complex chart represents securitization auditor Dan Edstrom's best attempt to figure out who actually owns his mortgage: "The following flow chart reverse engineers the mortgage on the Ekstrom family residence. It took Dan over one year to take it this far and it clearly demonstrates what happens when there are too many lawyers being manufactured."
Just When You Thought You Knew Something About Mortgage Securitizations
(Thanks, Mr. Tough!)
Tim Harford points out that Dieselgate — when VW designed cars that tried to guess when they were undergoing emissions test and dial back their pollution — wasn’t the first time an industry designed its products to cheat when regulators were looking; the big banks did the same thing to beat the “stress tests” that […]
Black American wage disparity can be offset by education; but even though black American families — one parent, two parent, educated, uneducated, employed, unemployed — save more and spend less than their white counterparts, white families have substantially more wealth than black families — college-educated white adults have 7.2 times the wealth of their black […]
Kamala Harris was just sworn in as a senator from California, but her last gig was as California’s Attorney General, and in that role, she decided not to prosecute Trump Treasury Secretary pick Steve Mnuchin, whom her office had identified as presiding over “widespread misconduct” in foreclosing on Californians — that is, stealing their houses.
What could be more fun than a slingshot that shoots tiny airplanes? A slingshot that shoots tiny glowing airplanes of course! These toy planes are outfitted with ultra-bright LEDs, so you can fly all night without losing them in the trees.Whether you are a regular-sized child, or an overgrown adult one, these light-up flyers offer […]
You know the drill. You go to the dentist and they ask you how often you floss. You lie through your teeth and say, “every day!” (Bonus points if you have some cilantro or chives stuck in your gums from lunch). You don’t want to keep up the charade any longer, but rubbing that tiny strand […]
The Raspberry Pi Foundation has done outstanding work packing a fully capable desktop computer into a package the size of a deck cards—especially one that only costs $35. But if you already have a working laptop, why should you care? Oh, how much you have to learn. Besides operating well as a compact digital media hub, […]