Don't get me started on the big new idea on Wall Street to turn rent payments themselves into a securitized financial product (as opposed to doing this indirectly via selling mortgages to landlords)https://twitter.com/thrasherxy/status/1358632730217562112 …
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"See, we thought we could trust everyone to pay their mortgages no matter what, but that turned out to be problematic So then we were like hey -- tenants REALLY have to pay their rent or they REALLY won't have anywhere to live"
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Sound logic, if you don't think about it at all ("THE REASON THEY STOP PAYING THEIR RENT ISN'T BECAUSE THEY CHOOSE TO YOU DUMB FUCKS")
End of conversation
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But wait didn't a lot of the mortgage backed security capital just move from residential mortgages to commercial mortgages? Or is that what you're already taking about.
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