Bah,
Why are people trying to link Obama with his pastor? He can't control other people's views.
Forget about Wright and focus on the issues instead.
Z
Saturday, May 3, 2008
The "Dodge"
The financial crisis was summed up in everyday terms by Canada's top banker as follows:
In banker-speak...
"Canadian third-party ABCP tends to include a clause that guarantees liquidity only in the event of a "general market disruption." Many, but not all, of the liquidity providers have declined to step in as this paper has come due, essentially saying that the continued operation of some parts of the commercial paper market indicates that there has not been a general market disruption."
In English now...
"The money lenders are right there when times are good but don't try to find them when times get tough".
In banker-speak...
"Canadian third-party ABCP tends to include a clause that guarantees liquidity only in the event of a "general market disruption." Many, but not all, of the liquidity providers have declined to step in as this paper has come due, essentially saying that the continued operation of some parts of the commercial paper market indicates that there has not been a general market disruption."
In English now...
"The money lenders are right there when times are good but don't try to find them when times get tough".
John McCain and Big Oil
OK so McCain said that we wouldn't be fighting in Iraq if they didn't have any oil. Yep. Big surprise. Was anybody surprised? No. Why deny it? Probably the same reason that Clinton denied inhaling pot smoke. Same (mysterious and unknown) reason. If we could figure out why politicians try to deny what is painfully obvious to even the most cretinous among us, we might make some progress.
The Scoop
I'm watching the CNN special on the subprime mortgage crisis, in which Bernita Jones loses her Atlanta home.
The answer to this whole mess is a question. Unfortunately, I'm not sure what the question is. In the case of the JFK assassination, the "question" is ...
"How did Lee Harvey Oswald, a known communist appearing on every government watch list (i.e. unemployable), manage to land a government job in exactly the right place at exactly the right time?"
In the case of the subprime mortgage crisis, I think the question is "Who benefits the most from the crisis?". I wasn't 100% sure until I saw the CNN special and discovered that it is the lending companies who are buying back the foreclosed homes at bargain basement prices. There's your answer. Same old same old. The rich guy makes money on the way up and again on the way down. The poor guy thinks he's making money on the way up but gets killed on the way down.
I'm not sure why CNN stops short of figuring this out.
Actually they did mention that the subprime mortgage crisis was born from the dot com meltdown and 911.
OH MY GOD -- some lady on CNN just called it a PONZI SCHEME -- check when I had this on my blog. OH MY GOD. CNN GETS IT.
I take back everything I said above.
Wow.
It is May 3rd at 11:24pm and somebody in the mainstream media told 300 million people what is really going on.
Z
The answer to this whole mess is a question. Unfortunately, I'm not sure what the question is. In the case of the JFK assassination, the "question" is ...
"How did Lee Harvey Oswald, a known communist appearing on every government watch list (i.e. unemployable), manage to land a government job in exactly the right place at exactly the right time?"
In the case of the subprime mortgage crisis, I think the question is "Who benefits the most from the crisis?". I wasn't 100% sure until I saw the CNN special and discovered that it is the lending companies who are buying back the foreclosed homes at bargain basement prices. There's your answer. Same old same old. The rich guy makes money on the way up and again on the way down. The poor guy thinks he's making money on the way up but gets killed on the way down.
I'm not sure why CNN stops short of figuring this out.
Actually they did mention that the subprime mortgage crisis was born from the dot com meltdown and 911.
OH MY GOD -- some lady on CNN just called it a PONZI SCHEME -- check when I had this on my blog. OH MY GOD. CNN GETS IT.
I take back everything I said above.
Wow.
It is May 3rd at 11:24pm and somebody in the mainstream media told 300 million people what is really going on.
Z
Saturday, February 9, 2008
The Subprime Mortgage Crisis
The subprime mortgage crisis is an example of a pyramid scheme - the financial institutions offer mortgages to an ever-wider audience - a wider audience fuels higher housing prices (and bigger mortgages) - a party that eventually ends when the audience can't get any wider and the pyramid collapses.
Thursday, January 24, 2008
History-Making Year
This is a history-making year in presidential politics when, for the first time ever, we have both a woman and an African-American making a serious bid for their party's nomination for chief executive.
http://kennebecjournal.mainetoday.com/view/columns/4688517.html
http://kennebecjournal.mainetoday.com/view/columns/4688517.html
Friday, January 4, 2008
Presidential Campaign on YouTube
The United States presidential election of 2008, scheduled to be held on November 4, 2008, will be the 56th consecutive quadrennial election for president and vice president of the United States. This presidential election schedule coincides with the 2008 Senate elections, House of Representatives elections, and gubernatorial elections, as well as many state and local elections.
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