Forrest Gump Explains Mortgage Backed Securities

(Passed to me via email, but worth posting)

Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.

Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted.

Mama always said: “Sniff the chocolates first Forrest”.

Which just goes to show you this whole thing stinks 🙂

Home Depot = Good, Pegasus brand = Bad

Once upon a time we bought a new kitchen faucet.   We didn’t go all out, but we did spend more than we wanted.   We bought a Pegasus Brand faucet.  It looked good, and felt nice.  Retail at the time was around $180.  Similar faucets by Mowen and Delta cost about 20% more or $10-$40 more than the Pegasus. 

The one we purchased was this one:

Well, not exactly this one.  Ours is model K-300 but it looks exactly the same but the new model is K-700.

We had it a few months and the pull-out handle thing literally broke off, as in the plastic that screwed into the hose snapped.  Granted our son got a little frustrated and banged on it, though it should have taken more abuse.

Since my son did the breaking (or so we thought) we made him pay for the faucet, or at least 1/2 if I recall correctly.  

We couldn’t find parts online anywhere so we went to the Home Depot and purchased an entire new faucet to get the parts.   That was less than a year ago (I think).

Well tonight, Maggie while washing some dishes, pulled the handle out and it snapped right off, just like the last one.   Only this time, well there wasn’t any abuse or force.

Needless to say we (at least I) was a tad frustrated.  Again we looked online.  Turns out Pegasus is a home brand for Home Depot.   There is no obvious way to get parts and I’ll be damned if I was going to cough up another $180 for another faucet.   If that was the case I was getting something else.

So, long story short, we called Home Depot and told them our tale of woe.  The kind return lady said, no problem if we have the same thing come in and get the parts.

When we got there, she looked up the price of the faucet and was shocked.  “There’s no way you should have had to buy another one last time.  I’m giving you refund for the 2nd faucet.”  (Score).

So we picked up the new handle, and got a store credit for the new sale price ($149) which, in my book is a good thing.  

Home Depot did right by us tonight and we’ll continue to shop there because of it.   We will budget for a new faucet, I have no doubt we’ll be in the same broken faucet boat in another 6-9 months.   It’s a poor design.  Perhaps the new K-700 is different, but I’m not taking any chances.

(Searching the net you can find a lot of people complaining about Pegasus faucets, so buyer beware).