Honor Bound - Stephen Colbert on Banks Slicing and Dicing Honor Derivatives

In response to Walking Away Goes Mainstream; Yes It's OK "Wit's End" posted a link to a segment of an episode of the Colbert Report called "Honor Bound".

I had already seen the episode and it was as funny the second time. Click on the above link (not the image) to play.



The video gets better as it goes along. Here is a partial transcript of the funniest part.

The answer is not to change your lawn sign from for sale to "f**k it". A mortgage, remember folks is a sacred obligation. ....

You see, ladies and gentlemen, when you sign that mortgage, you gave your word. And your word is who you are. Ergo, you are your mortgage. And I think, I think this is a question of honor. The banks thought your honor was worth something. And they gave you a mortgage in exchange for your honor.

Your honor was so precious to those banks that they bundled your honor with other people's honor and cut that honor bundle into securitized honor derivatives, that were then sold to Wall Street honor speculators. And in an attempt to get more honor to sell they mixed your honor with the honor of people who did not honor their honor and eventually the honor bubble burst.

But that doesn't mean that they're responsible.

The Colbert Report is the only TV show I regularly watch. I tape it every night and typically watch it the next day at dinner.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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