01 October 2008

That's right kids! That divided, partisan, bitter group of misfits better know as the US Senate finally came together in a bipartisan way with one single goal in mind: to screw taxpayers.
So let me get this straight. Our financial institutions began lending way too many people way too much money. This wasn't good for those people who actually couldn't afford to pay those loans back.
When those people got behind on their payments, those same companies foreclosed on their mortgages or jacked up their interest rates as penalty. Then, those companies began to lose their shorts because of the bad loans they had made.
Then the banks began to close up shop - handing millions of dollars in parting gifts to the Kamikaze CEOs that were responsible for the idiotic lending decisions.
So the federal government decided to buy all that bad debt that no responsible financial firm would touch (since people obviously can't repay it). Then - when those people don't repay it, taxpayers will be left holding the bill. But the only ones who will still have any money left (after losing their house and/or job) will be average people who have paid their mortgage on time.
BRILLIANT!!!!!
Man - I'm the wrong business! Thanks to our government for reminding us that they can get together when it counts - and whenever they do, we're sure to all get screwed.