Tuesday, December 14, 2010
Friday, October 29, 2010
Back in the first round foreclosures,
T’was the bankers that made themselves hosers:
With mooches for debtors the MBS bettors
Were buggered by shorts from their brokers.
Well-hung bankers in trading floor branches,
Of banks built of dud bb tranches,
Were shocked to discover their positions uncovered
When Hypo Real shunned their advances.
With mountains of dreck on their books,
The best and the brightest and crooks,
And Freddy and Fanny all ran to their nanny:
It’s free money whenever she cooks!
Now bankers, they really can’t stand her,
That nanny, she could make them pander,
But loves them so much that whenever they touch
If they don’t pick her pocket they rob her.
While her power makes them so jealous,
Only bankers are worthy, they tell us,
To indulge in her pleasures, all national treasures
They'd corrupt lesser mortals among us.
And her children she tends to neglect.
She lets them all get by on debt.
But for bankers suffices to look past their vices
And backstop their every bet.
When the economy finally tanked,
From her brood employment was yanked,
But instead of their succor she embarked like a fucker
On a high horse of moral complaint!
It wasn’t bank’s loose lending standards,
But the low lives, those big spending bastards,
That created this mess and she had to confess
They deserved all their little disasters.
Having given all that they had asked,
She was shocked when her bankers then tasked
P R flaks with attacking all her efforts at backing
Rationales for the big bucks they’d sacked.
Now it’s nanny who’s going to get hosed
By those big spending bankers who posed
As the hope for the future she really felt suits her,
But now they’ve run off with here clothes!
Bankers speak now with the voice of the state
They tell the rest of us "fish or cut bait"
Give your money to us or you're under the bus!
Extortion they insist is our fate!
So it seems that Americans are left
To select between robbery and theft
As preferred means to fund financial industry fun
While forsaking our own lives bereft.
Saturday, August 14, 2010
Five years on now, not only has QE massively inflated the balance sheets of the Fed and asset prices for the rich, but the GOP's continuing erosion of the authority of the IRS to collect tax from the wealthy is setting the conditions for revulsion. To gamble further with our patrimony, our sanctions efforts with Iran, Russia and Venezuela are all pushing toward a China centric integrated foreign exchange system. So we have erosion of our own strengths while actively incentivizing an alternative. 1/28/15