Monday, September 08, 2008

NEW YORK: AMERICAN CAPITALIST DON'T LIKE GOVERNMENT CONTROLS: EXCEPT WHEN THEY DO

Dow's up three hundred because Uncle Sugar took over Fannie Fox and Freddy Krueger. But I thought.......Oh, never mind!

5 Comments:

At 1:59 PM, September 08, 2008, Blogger UMRBlog said...

I'm sure that's responsive to something, but damned if I know what.

TYFCB

 
At 2:14 PM, September 08, 2008, Anonymous Anonymous said...

Follow the bouncing ball. Many of the so-called "creative mortgages" were designed in response to politically correct and racially motivate legislation demanding that lenders have more minorities in their customer portfolio. Again, this was not something that came from the right side of the aisle.

 
At 4:43 PM, September 08, 2008, Blogger UMRBlog said...

Oh, no profit motive in those products, Huh? Something really lefty about selling some guy making thirty K and interest only balloon note at 42% of his take home?

That was liberal welfare rather than an unregulated free market of bottom-feeders?

I'm sure glad we cleared that up.

TYFCB with the bouncing ball

 
At 5:02 PM, September 08, 2008, Anonymous Anonymous said...

You need a refresher course Umr. I'll give you time to study up. Then me and my balls will be back.

 
At 7:30 PM, September 08, 2008, Blogger UMRBlog said...

That's very cryptic but not very useful.

I happen to represent real live clients who got stuck with these white-alligator-shoes deals. It wasn't do-gooders who sold these things. It was opportunistic, quick-hitting sales types.

Even if you could tie the subprime products to the FM2 systems, these products didn't come from the left. They came from the same peeps who used to sell Land Under water in Fla.

TYFCB

 

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