“SecondMarket Holdings, the private-market securities trading firm best known for allowing numerous overzealous fans to buy FaceBook at moronic valuations, on Monday ‘will roll out a platform allowing lenders to issue securities backed by student loans directly to investors.’ Why is SecondMarket doing this? The same reason Lloyd Blankfein was selling Abacus (and all those other synthetic MBS CDOs) to clueless yield chasers all across Europe and Asia: yield chasing and career risk. The justification is also the same: making a market.”
http://www.zerohedge.com/news/2013-03-03/so-you-want-short-student-loan-bubble-now-you-can
Related posts:
Cannabis for Elders: A Precarious State
Senate About to Legalize NSA Logging of Every American's Phone Calls?
Google takes action to support open Internet
What Is Hemp Plastic
After extracting $1 billion bribe from ZTE, Commerce Dept. partially lifts ban
"Why Americans Are Protesting War on Syria"
How the NSA Converts Spoken Words Into Searchable Text
How Hackers Use Bots to Score Prime Restaurant Reservations
Even its Creators Want to Shut Down the Asset-Forfeiture Racket [2014]
Cops accused of stiffing family for vet bill after shooting their dog
JPMorgan's $13B Penalty Helps IRS Deal A Huge Blow to Homeowners
The Verdict: Murder as an Official Entitlement
Missouri man arrested at hospital for refusing to leave gay partner
Rep. Peter King: Punish journalists who report classified information
Who voted for the Reed Amendment in 1995 and 1996?