Good Morning Obdurate Bastards,
Perhaps this is old news by now, but I just read about Fannie Mae and Freddy Mac delving out over 200 million in bonuses for and I quote, “Keeping the companies operating at full speed was best for the housing markets and best for the economy,” Lockhart wrote. ”That would only be possible if we retained the Fannie and Freddie teams.” Are you kidding me!!!? I’m not following the logic here, perhaps the Bagwan could enlighten me, because it’s the same bullshit argument Dv’ant makes to keep U.S. automakers afloat with tax dollars. The precious ‘teams’ needing a bonus to stay on board are the very same ‘teams’ responsible for losing 100 billion in real estate bundles sold to banks everywhere setting our current free fall in motion. I’ve been in sales most of my adult life and have NEVER received a bonus for falling short. Management went on to explain that many of their 7,600 employees lost significant amounts of money in their 401K’s or other retirement vehicles and needed the support. THAT’S TOO FUCKING BAD! These dickheads should be grateful to have a job let alone avoiding fraud charges! Millions of other hard working Americans not only saw their retirement accounts lose half their value but also lost their jobs. More importantly though, these victims had no hand in pushing the first domino and still got screwed. I CAN’T COMPREHEND THE ARROGANCE!
While I applaud ingenuity and hustle to make a buck, I’m infuriated when the “Mr. Potter’s” of the world are rewarded for cheating Bailey’s Savings and Loan. From what I’ve read these bastards at Fannie and Freddy had plenty of warning but elected to ignore the fact that these bundles included sub-prime or ‘liar loans’ that put people making $20K into a $350,000 home they couldn’t afford. Why would they do that? Money. I suppose some blame should be put on the buyers but they were desperate to have a home and finally afforded an opportunity. These applications were predatorily taken and processed knowing full well they’d get their money long before the loan defaulted. If applications were accepted without due diligence then blame rests squarely on the brilliant ‘teams’ in need of a bonus. I say to HELL with them! They should be forced to live under the viaduct awhile.
Greed is one of the seven deadly sins God warned us about. If one takes a closer look at this debacle an argument can be made for gross violation of ALL of them. In addition to greed; lust, gluttony, slothful, Wrath, Envy, and Pride could also find a place of honor within the Pantheon of Bernie Madoff. The only difference between the ‘team’ and Bernie is the fact Bernie is in prison and the ‘team’ got a bonus. “What a world—What a world.”
Look I understand I’m once again tilting at windmills but outside of political righteous indignation expressed for CSPAN where is the outrage? Why haven’t we cut the head off the snake? “Am I the only one that gives a shit about the rules?” Apparently so……”fuck it Dude, let’s go bowling”