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.
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, […]
Custom coffee vessels are the perfect piece of office flair, but it’s just a matter of time before your VOTE FOR PEDRO mug will start to lose its relevant wit. Why not have a new one every day, with whatever silly nonsense you want sticking off the sides? You can save big on your novelty […]
The Lightning port has thus far resisted the cruel fate that befell the headphone jack, and despite rumors that it may be disappearing come iPhone 8, for the present and foreseeable future, Lightning cables are a hot commodity for iPhone users. As such, we must make do in this strange time in which long, glorified […]