So this farmer needed money, he had a lovely, fat, donkey and decided to part with the donkey by means of a raffle.
He printed 100 tickets, offered them for sale at one dollar each ticket, well to his surprise he sold 85 tickets on the open of the raffle.
On the sale of the 85th ticket the poor donkey died, the farmer was so sad to lose his wonderful donkey, he cried for hours and suffered for his beloved donkey. He rushed off to his partner and cried “what will I do now as the donkey is dead and I have sold 85 tickets”, his friend told him to sell the additional tickets.
They made a plan that when the winner was chosen in the raffle the donkey`s owner(the farmer ) would simply refund the one dollar to the winner, explaining to the winner that the donkey had died, well the winner was selected and the farmer offered to return the $1.00 to the winner of the raffle.
The surprise of the farmer, was that the winner refused the $1.00 refund as offered and demanded the dead donkey, to settle the issue, without recourse.
The farmer was confused so he then asked the winner, Sir why do you want a dead donkey? the winner simply said, ” I will raffle the dead donkey”.
This is what happened with the banksters and the real properties, they sold million dollar homes to people who they knew could not keep up the payments, the bank made fees on each closing, they used the investors money to make the purchase and fund the loans, and used the borrower`s signature, to validate the transactions, sold the asset to investors at trumped up prices well in excess of the real value of the asset, then they foreclosed the homes, a few months later and did it all over again, it was a money making trick that went bad.
Guess who paid to bailed them out?.
They were selling dead donkeys.