Spirit of the Season

"You're thinking of this bank all wrong. As if they had the money back in a safe. The money's not here. Your money's in a super senior synthetic tranche hedged with a CDS on Joe's house...right next to yours. Supported by the excess spread from the Kennedy house, and Mrs. Macklin's house, and a hundred others. Why, you're lending the Orange County's Firemens' Retirement Fund the money to short builders commercial paper, and then, they're all going to pay it back to you as best they can."