Awesome! Congrats guys! Though we didn't take top prize, Team Neatorama did have a lot of heart (and yes, we're smaller than Boing Boing, so on a normalized basis, we contributed more per capita!) :)
As a father of two cute daughters, I can attest to Ferengi Rule of Acquisition #94: Females and finances don't mix. Oh, and congratulations John and family!
@SenorMysterioso - well, it's not that simple. Most of these mortgages are bundled into securities and then sold, which then gets bundled again and sold again and so forth.
They know that a certain percentages of mortgages they sold will default - but obviously they underestimated the number, hence the problem with "toxic asset."
@Rachel Ann - I'm hoping we'll end up with female characters too.
Howazabout: Neatoyeti?
They know that a certain percentages of mortgages they sold will default - but obviously they underestimated the number, hence the problem with "toxic asset."
See: 10 American Financial Meltdowns