Hey, Congress

August 31, 2007

How about passing a law making it illegal for any organization, including the government, to spy on US citizens?

I know, makes too much sense.


Stupid is, and stupid does

August 31, 2007

He just continues to amaze:

WASHINGTON — President Bush, looking for ways to respond to the subprime-mortgage crisis, will outline a series of policy changes and recommendations today to help borrowers avoid default, senior administration officials said.

Among the moves will be an administrative change to allow the Federal Housing Administration, which insures mortgages for low- and middle-income borrowers, to guarantee loans for delinquent borrowers. The change is intended to help borrowers who are at least 90 days behind in payments but still living in their homes avoid foreclosure; the guarantees help homeowners by allowing them to refinance at more favorable rates.

WTF? Why should the rest of us pay for every other idiot’s excesses?

I suppose in order to get enough people on his side for the planned assault on Iran, he has to throw them a bone.

But a little advice for anyone who accepts any kind of bailout: read the fine print this time! No telling what your government has up their sleeve.


Another pervy Republican

August 29, 2007

With a history of (allegedly) page fucking:

Me thinketh he doth protetht too much.

UPDATE
This guy has taken a photo
 of the actual airport restroom.


Fredo, we hardly knew ye

August 27, 2007

Yet the closer we got, the more repellant you became.

Still, credit where credit is due. His *spectacular* rise to the level of his incompetence is only surpassed in the annals of history by one man: his boss.

Give the man a medal. And a Burgie!

Good riddance to bad rubbish!


Laid off, and they’re already starting to squeal like the rat bastids they are

August 26, 2007

Alas, all good scams must come to end. If you don’t take care of your cohorts, Tangelo, remember they have short memories. They long ago spent their bonuses and when they stuck their hand hand out for more, you pink slip ’em, well, don’t expect your former employees will be kind to your “organization.”

And, as this wide-ranging exposé illustrates (NYT, free registration), those Cunts at Cuntrywide(tm) weren’t above making the very same sort of pitch as those bastids one post below:

On its way to becoming the nation’s largest mortgage lender, the Countrywide Financial Corporation encouraged its sales force to court customers over the telephone with a seductive pitch that seldom varied. “I want to be sure you are getting the best loan possible,” the sales representatives would say.

But providing “the best loan possible” to customers wasn’t always the bank’s main goal, say some former employees.

And, finally, someone in the MSM points out Tangelo Orangzillo’s prolific stock dumping during the preceding twelve months.

Plus, insight into what perhaps motivated those Cunts at Cuntrywide(tm) to crank out subprime loans at such an alarming rate. How much would you wager it had to do with the profit margin on these loans vs. prime loans? Add into this witches brew of usury the “incentives” (i.e. sales commish) for the Cunts droids to push risky loans when the borrower qualified for something less risky, then well, it’s deck stacked against anyone who misplaces their trust in Cunts at Cuntrywide(tm) and the entire home mortgage system:

Persuading someone to add a home equity line of credit to a loan carried extra commissions of 0.25 percent, according to a former sales representative.

Hey, wasn’t usury outlawed at some point in the history of ths country? No? Just in the bobble? Nevahmind.

[tip o’ the hat to Bakersfield Bubble]


Inside with the sub-prime slime:

August 25, 2007

Thanks be to HP for the tip!


Betting on the economy, or a betting economy?

August 17, 2007

Good primer [Salon, requires a “day pass”] on the credit implosion and why our “betting economy” (cos that’s what it is, really) is losing. Big time.

And it’s just just getting started!

The ratings agencies (Moody’s, Fitch, S&P) do the bidding of Wall St. without the benefit of any oversight from our “SEC.” The “investors” do a fine job of kibbutzing, looking over the poor rating clerks shoulder (IOW, not at arm’s length, perzackely) and helping to guide his dominant hand.

Of course, this is instead of allowing the market to weigh the value of any particular asset or security.

This might be construed as collusion by an objective observer of the process since the rating, and therefore any particular derivative’s value, is a total fiction.

Is it criminal to collude? If it isn’t, it IS deliberately scamming honest citizens of this nation.

Then perhaps it’s also legalized theft.

Gambling with (mine, yours, ours) pensions and retirement, and getting corpulent off fees – regardless of whether the particular investments they “manage” for you win or lose.

BTW, I pulled all of my money out of the cd’s I had had at IndyMac over a month ago. If you have anything there, or”invested” with those fine Cunts at Cuntrywide(tm) bank, you might mant to consider doing the same.

I’d also suggest keeping a few grand (ahem) in greenbacks “around” just in case.

Wall St is truly to blame here, and if there is a bailout of any kind, it’ll be these “risk takers” who will benefit (remember it’ll be our tax dollars – and how’s that for a double whammy?).

Which, when you ponder it, is really annoying.

These putzes don’t ever lose- we, citiizens of this country called the UNited States of America, do. They’ve taken the risk out of the system allright– the risk to them! If investments go bad- or worse, belly up- that’s not their money- it’s yours and mine! They’ve already collected their “fees!”

When LTCM failed, did anyone go to jail? No! They just turned around and started another hedgie!

Let’s not forget these Wall St. turd lickers are the same assholes who cry foul about welfare, unions, transparency, and would be dead set against any bailing out of p*wned homeowners (who shouldn’t be, but that’s beside my point).

One blog compared our nations economy to the Enron “busines model” and DAMN if it wasn’t spot on!

The Salon column uses a sports-betting analogy that really goes a long way to explaining this mess to most of us laymen.

And the conclusion I draw from it is, there are not nearly enough referees, let alone honest ones brimming with integrity, to keep this shell game, this ginormous Ponzi scheme, this adult version of Monopoly, game under control.