Stupid greedy f**kers
Washington Mutual failed yesterday. That is the largest banking failure in US history. Its head office is here. Two of my friends from NTRC work there. They'll probably go through layoffs again.
All this is as a result of greed - greedy banks, greedy investors, greedy mortgagors. Now look what it's gotten us.
I figured out that Elvis took out a 30 year mortgage for $787,500 in 2006. You know that thing is still sitting at like $780,000. Too bad the last house to sell in our neighbourhood went for $610,000. Those greedy fools kept taking their equity out of their home and spending it on stuff - renovations, cars, boats. Now what?
The thing that makes me mad is that we did everything right and we are still taking a hit by our investments tanking. And we'll take a hit by having to pay for this bailout package - which I think is now absolutely necessary to prevent further failures, which would mean further hits to everybody.
I am a socialist, and I do not mind paying taxes to ensure a reasonable standard of living for everybody. I deeply resent paying to dig people out of their greedy, capitalist, spendy holes.
Everything will be okay if we just go shopping. F**k it.
All this is as a result of greed - greedy banks, greedy investors, greedy mortgagors. Now look what it's gotten us.
I figured out that Elvis took out a 30 year mortgage for $787,500 in 2006. You know that thing is still sitting at like $780,000. Too bad the last house to sell in our neighbourhood went for $610,000. Those greedy fools kept taking their equity out of their home and spending it on stuff - renovations, cars, boats. Now what?
The thing that makes me mad is that we did everything right and we are still taking a hit by our investments tanking. And we'll take a hit by having to pay for this bailout package - which I think is now absolutely necessary to prevent further failures, which would mean further hits to everybody.
I am a socialist, and I do not mind paying taxes to ensure a reasonable standard of living for everybody. I deeply resent paying to dig people out of their greedy, capitalist, spendy holes.
Everything will be okay if we just go shopping. F**k it.