[logi_cal869]

I’ve read those explanations. I’m sure you believe it. I do NOT.

Mortgage backed securities are a class of derivatives since the owners of these bonds derive the return from the payments on mortgages, but do not actually own the mortgages.

This subject is fraught with hyperbole. I’m afraid all this discussion is doing is confusing those reading it looking for clarity. There is no clarity, only obfuscation & hyperbole by those seeking to protect their fictional profit instruments which, of course, resulted in all the debt.

We could have a conversation about where much of the $$ went (IMHO), but I’d only piss off a bunch of people. Nobody wants to hear it. The proverbial ostrich is the order of the day and our enriching politicians are duty-bound to fix it all. /s

[Toddsterpatriot]

Mortgage backed securities are a class of derivatives since the owners of these bonds derive the return from the payments on mortgages, but do not actually own the mortgages.

If you slice a bond into 100 pieces, they're still bonds, not derivatives.