Tilted Forum Project Discussion Community - View Single Post - "You Can't Soak the Rich"

roachboy · 08-12-2010, 03:11 PM

that's a kind of ethics-challenged view, there, dogzilla.

but either way, boo hoo. predatory lending practices enabled through deregulation and encouraged as a matter of policy in order to give people whose existences were likely to become precarious a living room to put a tv in so they can watch it and be told what and how to think about things that only made sense assuming all kinds of things that only made sense to assume in the la la land of conservative mythology....now the institutions that profited from those practices and sold the debt, so not only the original predators but others who sought to profit from them via the bundled debt instruments all rated triple a by moodys, your reliable guide to reliable reliability brought to you by the same companies the reliability of which moody's dutifully attests to, they're are all boo hoo because the bottom is falling out of the speculative game they played.

and you are all boo hoo because you see in all this a "soaking of the rich"?

that's hilarious.

they're called write-offs. it's all part of the grand charade. write-offs exist so shareholders can continue to profit in the face of massive losses. which aren't losses any more because POOF they're gone. POOF. bye-bye.

if you read the article that the paragraph you bit comes from, it talks alot about all this writing-off that poor poor financial institutions have had to do. but they were right there selling graduated mortgage products and raking in the cash when the getting was good, right?

cant be an effective parasite if the jobs aint there. and once the bubble in real estate ended the ability of people to borrow based on hypothetical property values ended along with it, the whole fiction came crashing down.

yeah. i think: if there was any sense in the federal government really, they'd declare a universal debt holiday. push reset. you want to free up money for investment? vaporize private debt as a political action to restart the economy. think of it as a break for everybody. the only obstacle really is the profit-taking motivations of the financial oligarchy. but maybe it's time to break them. no...its definitely time to break them.

but i digress.

08-12-2010, 03:11 PM	#326 (permalink)
roachboy Super Moderator Location: essex ma	that's a kind of ethics-challenged view, there, dogzilla. but either way, boo hoo. predatory lending practices enabled through deregulation and encouraged as a matter of policy in order to give people whose existences were likely to become precarious a living room to put a tv in so they can watch it and be told what and how to think about things that only made sense assuming all kinds of things that only made sense to assume in the la la land of conservative mythology....now the institutions that profited from those practices and sold the debt, so not only the original predators but others who sought to profit from them via the bundled debt instruments all rated triple a by moodys, your reliable guide to reliable reliability brought to you by the same companies the reliability of which moody's dutifully attests to, they're are all boo hoo because the bottom is falling out of the speculative game they played. and you are all boo hoo because you see in all this a "soaking of the rich"? that's hilarious. they're called write-offs. it's all part of the grand charade. write-offs exist so shareholders can continue to profit in the face of massive losses. which aren't losses any more because POOF they're gone. POOF. bye-bye. if you read the article that the paragraph you bit comes from, it talks alot about all this writing-off that poor poor financial institutions have had to do. but they were right there selling graduated mortgage products and raking in the cash when the getting was good, right? cant be an effective parasite if the jobs aint there. and once the bubble in real estate ended the ability of people to borrow based on hypothetical property values ended along with it, the whole fiction came crashing down. yeah. i think: if there was any sense in the federal government really, they'd declare a universal debt holiday. push reset. you want to free up money for investment? vaporize private debt as a political action to restart the economy. think of it as a break for everybody. the only obstacle really is the profit-taking motivations of the financial oligarchy. but maybe it's time to break them. no...its definitely time to break them. but i digress. __________________ a gramophone its corrugated trumpet silver handle spinning dog. such faithfulness it hear it make you sick. -kamau brathwaite Last edited by roachboy; 08-12-2010 at 03:15 PM..