The financial wizards are at it again, and this time they're not betting whether you'll default on your mortgage. They're betting on your life.
The financial folks on Wall Street, as always, are looking for certainty and to curtail risk. At one point, mortgages seemed to be a sure thing. People need a roof over their heads, and home prices have always gone up at least somewhere in the country, so if you securitize—that is, package various mortgages for people of varying financial health and geography—you mitigate risk. We all know that logic didn't pan out.












