Jeff Jones
02-20-2009, 11:02 AM
Otay, Buckwheat.
George Bush bailed out his fat-cat friends at the high-end of the financial debacle spectrum with TARP 1. (Obama is about to add TARP 2.0)
But Obama's main mission is to bail out the low-end of the financial debacle spectrum by giving the starry-eyed homeowners a pass on their real estate debt.
This should be economic mess enough for anybody. Already nonsense groups like ACORN are organizing in major cities to promote civil disobedience by telling foreclosed residents not to leave their houses voluntarily. Class warfare is about to make great cable televison.
(Somewhere, Hillary is thanking God for allowing her not to be elected President in order to flit about the world, while Obama has to deal with this crap.)
But, it's gonna get a lot better.
CREDIT CARD DEBT....
If ya' think holding a mortgage worth 60 cents on the dollar is bad for the banks, how 'bout holding massive credit card debt which is totally unsecured? Why isn't everybody maxing out their credit card limits while they still can?
If buying too much house is no longer punishable, why should having that Junior Leaguer wife of yours buy too many Armani dresses at Neiman-Marcus on plastic be any different?
The banks be in trouble. I don't think the terrorists need to rush any U.S. attacks.
George Bush bailed out his fat-cat friends at the high-end of the financial debacle spectrum with TARP 1. (Obama is about to add TARP 2.0)
But Obama's main mission is to bail out the low-end of the financial debacle spectrum by giving the starry-eyed homeowners a pass on their real estate debt.
This should be economic mess enough for anybody. Already nonsense groups like ACORN are organizing in major cities to promote civil disobedience by telling foreclosed residents not to leave their houses voluntarily. Class warfare is about to make great cable televison.
(Somewhere, Hillary is thanking God for allowing her not to be elected President in order to flit about the world, while Obama has to deal with this crap.)
But, it's gonna get a lot better.
CREDIT CARD DEBT....
If ya' think holding a mortgage worth 60 cents on the dollar is bad for the banks, how 'bout holding massive credit card debt which is totally unsecured? Why isn't everybody maxing out their credit card limits while they still can?
If buying too much house is no longer punishable, why should having that Junior Leaguer wife of yours buy too many Armani dresses at Neiman-Marcus on plastic be any different?
The banks be in trouble. I don't think the terrorists need to rush any U.S. attacks.