Elephant in the room: Securitization is a PONZI scheme

Tonight I will explain why securitization claims are just simply a PONZI scheme and what that means to the ordinary consumer/homeowner (and "borrower") in any consumer transaction. 

But let's start with this, as a checklist of items we will cover tonight:

ESSENTIAL ELEMENTS OF A SUCCESSFUL PONZI SCHEME

1. Exponentially increasing liabilities --- i.e., mounting debt. that is not disclosed until it crashes 
2. crappy, nonexistent, or inadequate assets
3. deceitful or nonexistent accounting
4. feeble, inert or toothless regulation
5. a get rich quick culture for preference salted with a whole array of inappropriate incentives
6. stupid, ignorant, lazy investors--- the greedier the better, and
7. an astonishing capacity for self-delusion