Private profit, socialised risk. It's The American Way!

[theweaselking]

Lehman Brothers is bankrupt. Merrill Lynch sold itself off for a pittance.

Tell me again how the American economy is "fine" because 0.01% of people are looting out and hiding so much that the "average" income is up despite the other 99.99% being way, way down and prices going through the roof?

Comments

[mrbankies.livejournal.com]

I can't, seeing as I'm so far removed from the 0.01% that I'd need a telescope to see the soles of their feet.

[interactiveleaf.livejournal.com]

Sorry, you'll have to go to a conservative person for that.

Maybe John McCain--he's fairly famous for telling lies.

[theweaselking.livejournal.com]

I've got a couple around here.

[interactiveleaf.livejournal.com]

I had a conversation with some conservatives (or maybe they were Republicans, or Libertarians) about this recently.

Apparently it's all the Democrat's fault, because they forced HUD to give out all those racially-based affirmative action loans. When I pointed out that the problem was not so much with the loans, even though the loans were bad enough, but with the companies that rated bad mortgages as "A" or "A+" securities, they explained to me that I'm stupid, that I'm prejudiced, and that I'm too emotionally immature to understand or accept the truth.

So now that's all cleared up, right?

[lafinjack.livejournal.com]

Glad they're here to set us straight.

[unknownpoltroon.livejournal.com]

The US is FUCKED.

[sparkindarkness.livejournal.com]

The rich people say it's fine! You're saying the government is lying?! You're helping the terrorists, damn it! Now get out there and buy a hummer on your 8th credit card!

[the-paco.livejournal.com]

It's the death throes of an industry that made it's bread and butter screwing consumers and trading 30-year loans like comic books locked in steel boxes. Can't see it, can't open it, can't even really trust it, but if we bust it open... HEY! The comic is gone, instead replaced by sub-standard half-assed 'renovations' to sub-standard half-assed 1970's architectural nightmares on land that was recently worth less than the cattle shit that landed on it. No one will buy that! Quick, seal all the other boxes tighter and sell them with a smile, maybe no one will notice.

It's dying, horray. In it's place will be more stringent controls of what can be sold to whom and still be considered a "good deal" to trade off to speculators, and run by companies that have other vested interests and experiences besides coin trading. It'd be nice if housing prices came back down to 'realistic' estimates, too. While I'm dreaming, I'd also like oil price speculators to be exiled to Siberia, a pony that farts bio-diesel, and the entire cast and crew of "Flip This House", the knockoffs, the book publishers, and every worthless waste of a cheap suit that followed their example to be found out to be largely responsible for the late-game consumer-fucking end of this cycle, and collectively beaten by mobs of enraged middle-class heroes.

I'd like one of those ponies, too

[eris-esoteric.livejournal.com]

*applause*

[neobitch.livejournal.com]

A (very mean) part of me would like China to walk up to the US about now and say, "Hey, that money you owe us? We'd like it now," except that it wouldn't actually hurt the sorts I'd like it to hurt. :P

[spartonian.livejournal.com]

My investment portfolio sucks right now. I can't imagine how bad it would be if I had invested in real estate.... *shudder*

[eris-esoteric.livejournal.com]

Yeah, I don't get that either. ???