Just a short observation… as I take a break from sorting through my clothes. And I ask myself: now why isn’t getting rid of clothes as easy as analyzing oh I don’t know… the economy, for instance?
So I took a day off from the real, final packing stuff yesterday to take my friend to her orthopedic doctor’s appointment in NYC. We are in the waiting room and the only magazines are ESPN, Biking, SPORTS… in an orthopedic waiting room filled with old people with hip and knee problems. Okay.
So I focused on CNBC’s Power Lunch. These surreal anchors and field “analysts” were talking about Fed Chairman Bernake’s call to the banking/lending industry yesterday. Bernake suggested reducing the principla on loans and/or locking in low interest rates on adjustables to help stabilize the home foreclosure crisis in America. The response?
His comments, with an implicit call for banks to give up some of their income from mortgage loans to forestall defaults, contributed to a day of declines on Wall Street.
Stabilizing the housing crisis or taking a hit on profits. Hmmmmmmmmm. Well call me fucking lunatic crazy, but I’m thinking that stabilizing the crisis has long-term benefits to investors, the economy, and citizens. Even absent the obese profit margins, the long-term stabilization of the middle class must have benefits to the financial industry, no?
Even absent profits, helping others must have long-term benefits, no?
It’s fucking obscene. The market crashes because the Fed Chairman suggests banks help out the lenders they duped with predatory loans that should NEVER have been offered in first place.
And one asshole starts worrying that if Congress gets involved in regulating these kinds of loans, it will go too far. And hurt the interests of the 1%.
Now. Really. There must be somebody out there in the lefty sphere that can take this information, reduce it down, and make people aware of how fucking awful and obscene this is. That the only interests being protected here are those of the 1%.
Forget our banner contest. Let’s have a contest for Gabriel D’s newsletter. And pick the best, clearest, easiest-to- see-it piece on just this issue. Then let’s all take a handful of that newsletter and hand it out our shopping malls and supermarkets. I’m serious. All of us here at DD… print out 100 of these hard bills and hand them out.
… and see if it has any impact. because i’m really tired of this shit. including the very uninspiring Democratic bullshit.