Sunday, July 13, 2008

Fannie and Freddie and Indymac and moral hazard

How the flying fuck does Henry Paulson sleep at night?
This is a complete clusterfuck and anyone that thinks that this sunday night news is going to fix anything is whistling past the graveyard.

we have the 2nd worst bank failure in American history on Friday and then today this bullshit bailout.

Privatize the profits and socialize the losses ... yup that is capitalism alright.

What utter bullshit. Moral hazard indeed.

Yes, I am pissed off about this because it is what has been predicted for several months while everyone in authority said "no no it is not THAT bad". and then Bear Stearns failed .. and it was "oh no . that is the only one" ...

does anyone have any Lehman shares?

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