Das Market - The Directors Cut

I went through my own financial crisis a few years ago. As a result, I have very little money in the stock market, so I am immune, at least directly, to the massive crash and burn currently underway.

The same can not be said for others, such as my Dad and my Uncle, both of whom were planning to retire soon. This is not a "correction" or the "ebb of the cycle" (as I heard some moron say in a restaurant yesterday while discussing how McCain will fix things). This is a deep and permanent sea-change in how the US and global economies function, how markets work, and how never more will the thinking public blindly trust the money people or the government when they say everything is fundamentally sound and there isn't any real crisis to be concerned about. Or that yes, this interest-only loan is a great way for first time buyers to get in to a bigger house than they ever thought possible!

I just can't stand the fact that these money-grubbing slimeball cretins running the banks and mortgage companies have put so much focus on padding their bottom line with such little foresight. The never once stopped to think who they would be affecting, even though a rare few of them saw the danger and spoke up, and were promptly ignored in favor of catching all the dollar bills in the money booth. In hindsight how many subprime lenders would have done things differently? And how many would lie through their teeth and say "yes I would have" to that last question?

So to all you lenders and bankers and investors and speculators who personally fueled this descent, I hope you get recognized on the street and treated like the gutterscum you are. I hope the courts catch up with you and make you see the breadth of what you have wrought. For you I encourage early retirement because no one wants your "skills" in the workforce anymore.

posted by Tom at 10:43 AM | 0 comments |

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