Some time ago, I was confronted with the dilemna of what to do with my old beloved 1989 Blue Lincoln Towncar. It was the minister's car. With the high end stereo...a sign of the cloth of modern times.
My brother had advised me to just "junk it for $50." That seemed just too simple of an idea. Then I had a dream of what to do next: Here is the dream.
I decided that I would emulate the model of Enron, and securitize it. I first took the starter, alternator, and wheels and sold them separately, netting $100. Then I divided up the Lincoln into ten separate "traunches", various parts of the steel and parts. I did not specify in the documentation the state of the rust in each "traunche", but rather just separated it out and when it added up, it totalled $1000.
At that point I was ready to market these wonderful securities, but instead felt that I should join with others in possibly packaging these items in an elegant "basket" of delicate automotive mortgage securites.
At just that point in the dream, I woke up. Hence as far as dreams go, I do not know what would have happened if a purchaser of one of these delicate morsals of "automotive mortgage securities" was unable to pay the long term mortgage monthly payments due, and what would happen if someone wanted their money back. Frankly, I got my money out of that old beast and I could not care less.
Anyway. Just a wild and crazy dream.
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