Comments | substitute: Your tax dollars at work! Or mostly at play!

substitute

Your tax dollars at work! Or mostly at play!

Mar 13, 2007 16:42

There were a few news items about the mortgage catastrophe today. Instead of saying "hey everyone the so-called subprime market was usury and fraud and soon it will all collapse and we will pay and pay and pay," they said that there was "increasing concern" about the "dip" in the "subprime market" and that foreclosures were occurring. Also, big ( Read more... )

christwhatanasshole, subhuman, bros, commerce, appletinis, finance, 80sflashbacknightmare, orangecounty, bailout, mortgage, villainy, suboptimal, subprime

Comments 10

jpeace March 13 2007, 23:48:36 UTC

Christ, that was delicious. A little perfect bonbon.

sooz March 14 2007, 00:57:54 UTC

i don't know if you are personally being affected, but really what isnt to love about five year interest only loans ;)

substitute March 14 2007, 01:26:42 UTC

hah! no, I am not affected except that orange county's economy is gonna collapse and I'm going to get a luxury car REAL CHEAP.

what isn't to love... the sixth year? ;)

sooz March 14 2007, 02:11:35 UTC

cars are always the last thing people are willing to sacrifice. your car is much more a sign of your elitism than your dwelling because strangers see it. that is why so many of my crackhead neighbors here in the LBC rock rovers and benzs.

you should see how much pussy i get in the focus man.

trinnit March 14 2007, 15:21:20 UTC

Big Yellow Hummer like you've always wanted.

mcpino March 14 2007, 03:02:08 UTC

Lucky for me I have invested all my money in those collectible plates & figurines from the Franklin Mint.

"refi their rap sheet" firepower March 14 2007, 05:22:08 UTC

As a former employee of a major subprime and prime lender...this phrase was delicious.

Re: "refi their rap sheet" substitute March 14 2007, 08:02:26 UTC

Thanks! Like everyone in O.C. I have had friends who worked in that... industry. Whoo boy. Glad you're a former employee, that means you may well have a job for a while!

firepower March 14 2007, 15:52:29 UTC

Now I make money being a bearish financial analyst.

Seems to me as if there's a bit more of a future in that nowadays.

I sort of knew I had to get out when I saw thirty-year variable interest-only loans for $3mil amortized as if they were forty-year. It seemed like half the people I knew were wither real estate agents or becoming real estate agents. And the rationale was that prices will always go up.

Dude, you should have seen the contempt with which people told me real estate prices will always go up, as if I was the retarded janitor in a room full of amazing geniuses. Or as if I had rubbed a rotting fish all over my armpits instead of deodorant.

gcrumb March 14 2007, 21:22:17 UTC

Hang on a second - 15 years of taxpayer-funded blowjobs?

*sob*

I missed my calling....