Investment of the Year. Sub-prime mortgages. This investment product (the flaws in which could have been perceived by a bright primary school student) was concocted by severely overpaid financial engineers in Wall Street. The idea is that a punter should borrow as much money as he can to invest in a fund which in turn will borrow as much money as it can and then invest in mortgages given to people who don’t pay them because they’re NINJA’s (No Incomes, No Jobs, No Assets). See if you can spot the flaw in this investment strategy. If you can’t, don’t bother investing because you’re going to be wiped out. Just send your money to the Royal Flying Doctor Service, where it will serve some useful purpose.
