Wednesday, September 12, 2007

Sometimes you're homeless because they take your home from you

I'm struck by how inappropriately gross the current mortgage market situation has become. Industry people, government officials and the "free" press are all acting out a great imitation of shock. Who coulda seen it coming after all?

I read about the inevitability of this months ago. I wish I could remember where. Some less-than-mainstream liberal rag or another. You know? The ones you can actually trust. May have been The Nation. It doesn't matter. The fact is this act of shocked surprise is a disgusting lie.

And of course our Dissembler in Chief has promised the industry to have the Fed do everything possible to lighten the blow on the mortgage industry. But there isn't so much as a whisper of promise for help for those poor bastards who were talked into taking out these mortgages in the first place. These people (with other bills to pay and children to feed and pride to salvage) are being scraped off into the garbage pail of convenient disposal. Real unemployment (not that reported by the liars in Washington) is on the rise. Wages are being assaulted. Nobody in government gives a damn about insuring the working poor (yeah, the working poor. Who else do you think the predatory lenders went after?).

Just wait. In a few months or maybe a year, the increase in the homeless will be blamed on (who else?), the homeless! They should have remained in rented houses and apartments. They shouldn't have had the temerity to think they were worthy of owning homes and taking out mortgages. A few lenders will fail (and that will be blamed on "bad risks" [meaning of course, "worthless" people]), but most will sail through fat and sassy. And nobody in the fucking Bush Bunker will lift a finger to make this whole practice illegal. And it god damned should be illegal. And don't hold out any hope that our pantie waisted Democrats in Congress will do anything.

You know, I am really pretty pedestrian when it comes to finance and the economy, and even balancing my own checkbook. But I foresaw the bursting of the Internet Start up bubble. I made this prediction to this very Republican CPA who worked for the same company that employed me at the time. He thought I was smoking pot (well I may actually have been doing so at the time, but that's beside the point). Now I actually liked this guy and he and I had lots of very interesting conversations. But I can't really believe that someone as smart as him couldn't see that crash coming. I just think he had his head up his ass. And I think conservative ideology is what stuffed it up there.

And I think the slavering sickos in their 3-piece Italian suits knew this mortgage crisis was coming. But I think greed has a way of sticking your head up your ass and making judgement (even selfish judgement) difficult. I think they just wanted to see how far they could push this before it all caved in on them. Of course they were all hoping to see the tell-tale signs of a collapse and ditch moments before the cave-in. But as I said, eyeballs behind intestinal walls are pretty useless. I hope some of them end up homeless.

Dream on Yar. When pigs fly.

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