3.31.2008

Random Rambling Reality Checks

Greeting puny Earthlings.

Time for a few of my random rambling reality checks.

1. I now know why Wall Street billionaires have been funnelling money to the Democrats. They're looking for protection for the sub-prime boondoggle created by their own greed and lack of common sense. If a Democrat gets elected, expect to see a multi-gazillion dollar bailout program that will essentially protect them from their own greed and allow them to keep their massive bonuses for running their companies into the ground.

2. There are all sorts of reports that Hillary Clinton's campaign is hemorrhaging money and stiffing suppliers for hundreds of thousands, if not millions of dollars. Damn, she's spending like she's already in government.

3. Okay, Islamic leaders around the world are shitting kittens about that movie Fitna, saying that it portrays them as prone to violence. So what do they do to quash this "unfair stereotype?" They threaten to KILL the filmmaker and anyone who broadcasts the film. People are offencive by nature, if you can't live with that fact, you're not going to live very long.

4. Muqtada Al Sadr is a nutless whiny bitch. He just is. Who else would play so bravely with the lives of others just to make Ahmadinejad happy? And then he folds up and cries for mercy when the serious ass-whupping starts. If he was picking a fight with my empire standard procedure would be to trap them into a temporal loop where they spend the rest of eternity getting their ass kicked by my android hordes.

5. What the hell is wrong with England? It was their acting more nutless than Al Sadr that started this whole Mahdi uprising. Wake the hell up!

That's all for now, keep watching the skies, because we're watching you.

1 comment:

cincimaddog said...

Sorry Rem, but I have to expound some on your reality check regarding the sub-prime boondoggle.

Sub-prime lending has been around in a big way for decades. The typical sub-prime borrower is just that, below prime for lending, or in other words a high risk borrower. In the venacular of a lender, sooner or later you know you're going to get burned. Foreclosure rates have always been high in sub-prime loans, thats why the rates are higher. Increased risk = Increased rates. Were these guys trying to make a buck? Yes, thats what businesses do. Remember, greed is not a 4 letter word. Nor is it all their fault that the foreclosures happened. Granted part of the blame is theirs, they approved some of the stupid programs that were put out there, but everyone, the borrowers, originators (mortgage brokers and company employed) and underwriters who were going for bonuses and cut some corners, and appraisers who dummied up their values are to blame also. It wasn't like just the CEO's were out there defrauding everyone. You can't point your finger at any one person or group. Almost everyone was selfish.

I know, I was in the business for a long time and saw what was happening.

Consider also that I haven't seen any lender who is holding the mortgage make tons of money on a foreclosure. I used work for a lender. It was always a losing proposition to foreclose. As a bank or mortgage holder, you don't get foreclosed properties in great shape. Plus you have to pay someone to fix, maintain and secure the property, usually in some not so nice neighborhoods. So I scoff at the idea of a "Predatory Lender". If it were possible to make money foreclosing on properties, then why are they looking for a bailout?

Do they deserve a bailout? No. Did some of these CEO's run their companies down? Yes. How many, I don't know, but certainly not all of them. Nor are all of them in a situation that they are failing.