Its not about diversification of risk, it's about sub-prime mortgages (the idea that if you aggregate a heaps of them they somehow become viable again. Which is what a lot of very well paid people thought.)
Newsflash:Bernie "Made-off With $50 billion" Madoff recently appeared before a judge to change his name. He requested to be known as Ima Theeven-B'Stard.
Wubba, this is intellectual humor. It doesn't always make you laugh but it makes you think. It is a poignant reference to the housing debacle. But it did make me smile.