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means and put them in the highest cost loan possible. because those paid the most f s fees. banks didn t have to care anymore about whether the loan got paid back because. the loan had been sold to wall street. instead of eep keeping the loans in their own portfolios, the big banks and giant mortgage companies that originally underwrote them sold them off to investment houses. firms like merle lynch sliced the loins into little pieces, package them up with investments and sold them to their best customers around the world as high yield mortgage backed securities. turning it into. silk purses. instead of buying one mortgage, they would take a thousand, put them into a package and cut them into a thousand pieces and then sell the pieces as a much safer investment. the idea was that all this it was diversified in 100 different ways. everybody had little pieces of it and therefore, if one of the little pieces went down, the

Wall streetWall street banksCost loanFs feesMortgage companiesInvestment housesMerle lynchWestern worldSilk pursesA thousand