Today's bright idea from the same twisted financial mind of one Johnny Debacle: Prop up the price of housing by making our mortgages out of corn. "Corngages!"
When America had (the desire to prop up corn prices) a need for cheap sugar, what did it do? Make sugar out of corn.
When America had (the desire to prop up corn prices) a need for an alternative source for cheap liquid gasoline? Turn corn (and pigs via piganol) into oil.
Now America has a floundering real estate market and the need for cheap domestic financing to prop it up. What should she do? Make mortgages out of corn. Turn what is plentiful into what is scarce. Simple...a green friendly and renewable source of mortgages...
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