an elegant solution to the writing irrationally high risk mortgages only to securitize (flip) them

..to make a quick buck (aka predatory lending). - A practice which created the housing bubble and attendant mortgage crisis - leaving many would-be homeowners FAR worse off than they were before they were victimized by predatory lenders - without a home but with all the debt.

http://www.democraticunderground.com/101694700