The banks will look up and shout save us and I'll whisper... "k lol"

[schmiss]

Administration Officials Met With Laughter At Bailout Briefing

Comments

[bombazzinedoll]

[schmiss]

loool
I saw the trailer like five times at work I'm gonna die before it comes out

[shizumaslover]

What trailer is this?

[bombazzinedoll]

[phonebill]

Hahahaha seriously, there's an influx of good titles here lately.

[juanita_dark]

SERIOUSLY. I laughed my ass off.

[bord_du_rasoir]

"By guaranteeing the assets, Geithner hopes he can persuade the private sector to purchase a portion of them."

That sounds like SUCH A BAD IDEA. Those asset- or mortgage-backed securities and derivatives are trash. Monday night, Obama said:

"What got us into this mess initially were banks taking exorbitant, wild risks with other people's monies, based on shaky assets. And because of the enormous leverage, where they had $1 worth of assets and they were betting $30 on that $1, what we had was a crisis in the financial system."

Is Geithner proposing that we sell people $30 assets that are worth $1?

[dwer]

that's not exactly the way it works. What's supposed to happen is that you take out an insurance policy on a mortgage my bank sold to Bob Homeowner.

What DID happen is that I allowed 30 people to take out insurance policies as well. So when Bob defaulted, I had to pay you, and 30 other people. That's the problem. This happened enough times to cause banks to fail.

[bord_du_rasoir]

I don't really understand. But, at any rate, this is reassuring:

"There doesn’t seem to be provision for mass purchases of toxic waste at premium prices"

[ladypeyton]

Quite honestly, all some of those mortgages needs is a readjustment of the interest rate back to what it was when the mortgage was first written.

Many of the toxic mortgages were written for people who didn't understand that a flexible interest rate meant that in the next few month their monthly payment could very well double.

[plasticorchid]

They act like bunch of kids.

[dancesontrains]

You should see the House of Commons!

[roboplege]

"GGGGWWWURRRRGHHHHNAAAHHWHA"

The House of Commons sounds like an accapella Lordi concert.

[motorghost]

I love watching the HoC, it's better than cable.

[schmiss]

lol wat! At least he doesn't look like a bad toucher like Henry Paulson.

[bord_du_rasoir]

Henry Paulson is the villain from Who Framed Roger Rabbit?

[plasticorchid]

That's outrageous. What the hell does he looks have to do with anything? God forbids someone looks young and has some hair, he can't do the job the President was confident enough to give to him.