Suckers (i.e., the rest of us)

Too bad those who bought homes on spec these past years, and/or who invested in equities, were not able instead to win Wall Street jobs gambling and losing vast sums of others' money, leaving crater-size tabs to be force paid by taxpayers we know now, yet retaining a goodly amount of the millions they were paid for losing the economic demolition derby. The damage mostly is on Wall Street, and spreads from there, and the suckers are everyone who wasn't in on the take that caused it. Many lessons in that, I'd say.

 

the lesson has to be that some regulation to keep people from doing stupid things is necessary.

 

I appreciate your comment and understand your point, but my post wasn't that the Wall Street warriors did anything stupid, to the contrary they did the thing most in their self interest by milking fortunes from pockets of everyone else. The jig being up, it's more than a little funny to find the so called conservatives who made it all possible cry for bailouts, handouts, and so on.

"Heads I win, tails you lose." You don't have to be a Master of the Universe to make money on that proposition, do you?

 

Holy Open Check Book, Batman! I say we all leave for Vegas and Stockton, to snap up empty homes, trim the weeds, and re-sell 'em to Ben and Hank. Those guys are unreal, giving a sucker an even break. Who'd have thought? Hell, next thing we'll see is Dick and Lynn bringing drinks to a Habitat for Humanity house raising. Can you hum Kumbayah? Start learning.

 

700b bet by Hank, Ben, and Bush. Those three are on a titanic losing streak and now want to double, triple, and quadruple (and more!) into the losses. And we have to sign the markers. No choice, and not even a nice meal or comped show for the cash lost.

I say wait until the 700b actually could create some value, as in jobs programs to rebuild roads, bridges, or anything other than just balance sheets of some terribly mis-run financial firms, and or the coffers of private contractors.

No joke, Hank wants absolute power free even of the courts to run this CDO relief fund -- private contractors (no bids, please) included. It's more than scary, given this Adminstration's track record. I mean, with this crowd, would anyone be surprised if mortgage "servicers" working on contract for Godzilla-from- swamp-water-of-the-Potomac show up in your neighborhood? Blackwater and ilk likely are readying their bids now. Look out.