Joined: Sat Aug 02, 2008 6:07 pm Posts: 995 Location: The land of a million galka...
Gender: Male ♂
IGNs: Floressa, Yururu, Cheetah, Donorise
I usually don't link this but it was a bit interesting when a coworker showed it to me.
Sorry if it sounds too much like a Zephie Penny for your thoughts. lulz.
http://www.dailykos.com/ wrote:
I gotta lie down ... monkeys just flew out of my ass.
by 8ackgr0und N015e Sun Sep 21, 2008 at 09:02:22 PM PDT
Deregulate the financial sector. I got that. Cheap money leads to housing bubble. I got that. Wall Street doesn't run free... it runs wild. I got that. Bad paper masquerading as legitimate securities. I got that. Oversight means "overlooked". I got that. Someone stopped buying the Ponzi scheme. I got that. Flimflam comes to a screeching halt. I got that. Organized crime shows up demanding protection money. I got that.
I think that pretty much brings us up to date. Here's where I lost it...
Quote:
The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.
I don't mean to yell but.... ARE YOU ##@!!^%^:?! KIDDING ME?
* 8ackgr0und N015e's diary :: ::
These guys are on the hook for more money than exists in the world... and the Fed let them skate by changing their North American Industry Classification System (NAICS) code? I don't mean to yell, but .... ARE YOU #$#@!*?$!! KIDDING?!?!?!?!!!!!!!!!!!!
Man... these guys got balls so big you can see them from the International Space Station! All they did to get out from under this mess was declare that instead of being a 523110, they are now a 551111? That's all it took?
That's like burning down a house ... with people inside it... then walking across the street to the cops and saying, "Don't think of me as a murderer. I'm just a poor, misguided, pyromaniac. So you see, officer, I'm not really a criminal... I'm just sick. Here, will you give this child a decent burial while I go get some therapy? Careful now, she's still smoldering."
That's nerve. That's chutzpah. That makes killing your parents and throwing yourself at the mercy of the court because you are an orphan look like amateur hour. But you know what? That's not the part that surprises me. What stuns me is the people who approved this are the same people who have the nerve to show up and point a gun at our heads and demand we fork over more money to them than we already fork over every year to the Pentagon!
Wow. I thought I knew what organized crime looked like. The Gambinos got nothing on these guys. Nothing.
Quote:
The request for the change to bank holding companies was granted by a unanimous vote of the Fed's board of governors during a late Sunday meeting in Washington.
The change of status means both companies will come under the direct regulation of the Federal Reserve.
I bet it was unanimous. The investment guys know their days are numbered so they panic and throw themselves at the mercy of the thugs hoping to keep a piece of the action. What's not to like? To put this in perspective... imagine if Big Tobacco ran over to the FDA and said, "Tell you what... reclassify cigarettes as a drug delivery vehicle so you can regulate us. Whaddaya say?"
Ok... now why on Earth would these guys do that? Seriously.
Quote:
The decision means that the Goldman and Morgan Stanley will be able not only to set up commercial bank subsidiaries to take deposits, giving them a major resource base, but they will also have the same access as other commercial banks to the Fed's emergency loan program.
Oh baby... mo' money mo' money mo'money....
This is like a junkie saying, "Alright, I'm going to clean up my act. I'm going to get a job in a pharmacy."
The only silver lining here is that I finally know what it feels like when monkeys fly out of my ass... I gotta tell ya... it doesn't feel anywhere near as good as it sounds. The worst part is they are completely untrained. I wish they were trained. Then I would be able to send my flying monkeys to grab up these bastards and dump them in a lake of fire somewhere.
UPDATE: Thanks for the rec's....And now a REAL comedian weighs in:
Joined: Sun Aug 03, 2008 3:21 pm Posts: 147 Location: The Planet from outer SPAAAAAAAAAACE
Watch it now, my Thoughts are far more awesome to read than this, and they aren't anywhere near as ranty most of the time.
The DailyKos is known to be a bunch of twisted rhetoric with much hatred towards the United States. It can be considered to be a cesspool of empty information.
This however, has some merit.
The question I have been asking myself over the past few weeks is this: Why on EARTH is it that the Federal Government is trying to nationalize certain companies? AIG, Freddie Mac, Fanny May, Lemann Brothers come to mind.
Despite my silly approach to some of the major situations, I do have coherent thoughts about it and they aren't pretty. I've been spying a depression on the rise for the better part of a year; and as with everything the government puts its hands to nowadays, it will only make things worse.
It would be far better if the Federal government didn't touch the businesses and just let them fall as they were. It would shorten the problem profusely despite whining from the press. I am not happy with the current situation at ALL.
The fact there has been little oversight by the SEC chief and the only guy who was on these folks tails happens to be retired due to completely unrelated and overblown small issues... this is ridiculous. ESPECIALLY since it was CONGRESS and the Clinton administration that started this little snowball. There have been repeated attempts to avert this during the past years for reform, all were denied.
EDIT:
A Good Friend of Mine wrote:
More than 50% of the nation's mortgages have been nationalized by the federal government with the take over of freddie mac and fannie mae. This doesn't count HUD and FHA.
The takeover of AIG American Investment Group puts another 80 billion into theloss column (against the people). Congress passed no money for these takeovers. The Fed is turning on the priniting presses to cover these. This deflates the value of our money and combined with high gas prices, increases the costs of the necessities of life.
Conversely, we have 'stagflation' as well. This means that things like houses go DOWN in value due to the high influx of foreclosures onto the market.
I saw a 3 bedroom older house, not in bad shape, here in town for sale for 19,000. You can't get a trailer for that much. It was a Hud foreclosure. This is significantly less than its replacement value (what it would cost to build today).
This will get worse as people start losing their jobs.
McCain warned congress 3 years ago about the corruptions at Freddie Mac and Fannie Mae (both controlled by Democrat buddies of Obama). Both of whom made large contributions to Obama's campaign. Obama figures as #2 on the list of these contributions. Color this as the good ole boy network of democrats. Also, both of these have figured prominently in being advisors to Obama's campaign.
Biden now says that paying userious taxes is 'patriotic'. Yet, half of the population pays no income taxes at all. Guess they aren't patriotic. It should come as no surprise that the bulk of this 50 percent are democrats receiving goodies from the government. (vote buying).
10 percent of the population pays 70 percent of the income taxes.
It should be noted that 2 of the Marxist cornerstones (The Communist Manifesto) are incremental taxation (the punishment of the successful) and NO OWNERSHIP OF PRIVATE PROPERTY. With the nationalization of the mortgage business, both feet are in that bucket.
The Democrats and the Press are marching lockstep down Karl Marx Blvd.
"A government big enough to give you everything you want, is big enough to take away everything you have." -- Thomas Jefferson
Start investing in Gold NOW, and take advantage of your second amendment now that you have the chance.
Joined: Sat Aug 02, 2008 6:07 pm Posts: 995 Location: The land of a million galka...
Gender: Male ♂
IGNs: Floressa, Yururu, Cheetah, Donorise
ZephieCakes wrote:
Start investing in Gold NOW, and take advantage of your second amendment now that you have the chance.
Where's my shotgun.
I guess what irks me is that when a person is forced to file bankruptcy cause of shady lenders, who is there to bail him out. When the same happens to multi-billion dollar companies.. well we see whats happening.
Joined: Sun Aug 03, 2008 3:21 pm Posts: 147 Location: The Planet from outer SPAAAAAAAAAACE
Derzerb wrote:
ZephieCakes wrote:
Start investing in Gold NOW, and take advantage of your second amendment now that you have the chance.
Where's my shotgun.
I guess what irks me is that when a person is forced to file bankruptcy cause of shady lenders, who is there to bail him out. When the same happens to multi-billion dollar companies.. well we see whats happening.
The big questions are these: Why is it that the Government gets to spend all the money they want and never have to pay off their debt? What would the Government's credit score be if it were to be like everyone else who has to pay off their dues in a timely manner? And why the hell is it always passed onto the rich all the time when they pay 70% of the tax burden?
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