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that's interesting, but what do you think of this?
BBS: Burrito-Backed Securities
Pool all investment-grade burritos (organic meat with extra guac) into a tranche and sell them to IBs.
“Yes, I’d like to submit an order to buy AAA-rated BBS”
tranches based on your GPA, parents NW and whether or not you got double meat.
wtf!?
Dammit mom! I need to pull out a loan for my medical bills because the DoorDash bookie broke my knees again. I'm 8 months behind on my burrito loans....
that's interesting, but what do you think of this?
We tried to do this at Pipe. Short WAL means you need a revolving structure like credit card abs. Need a lot of volume/data to begin to approach rating agencies.
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Klarna has already done synthetic securitisations, probably not far off
My immediate reaction as well. Fucking insane
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LEEROY JENKINS 
@mochabear69420
Replying to @buccocapital
MBS on fucking steroids
Unbacked securities.
but high n to judge credit quality (assuming stagnant macro bc data doesn’t go back far)
Good thing private credit means these won’t have any volatility! (They actually could be quality, I haven’t looked at them)
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If companies are so willing to loan out large, uncollateralized sums of money to high-income urban professionals, doesn't that suggest there's a gap in the market there? Wouldn't that all be low enough risk to justify lowering the APR?
Don’t laugh *too* hard… mark my words, there is absolutely 100% a working group at Goldman Sachs right now trying to figure out the perfect boring technical sounding name for this that will let them do it
We first tried to warehouse the burritos from the OTC market at Chipotle but that ate into profitability. The real arbitrage opportunity was purchasing an animal shelter to offer “exotic” blackbox/wrapped vehicles.
School sports got monetized, why not get a piece of the grad student pie too? :x
I can't afford a full burrito but I can cover the cost of the rice for a third of a burrito.
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Affirm Asset Securitization raises $735.6 million from consumer loans | Asset Securitization Report
I'm really in a pinch this month, I'm going to need to take out a Burrito Equity Line Of Credit...
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congrats to charlie
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Chase Passive Income
@chasedownleads
Excited to announce that I closed on a $31.38 transaction to secure a burrito and side of chips
20-year senior fixed rate financing was provided by Klarna
DoorDash provided delivery of the asset
Congratulations to all involved
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