youtube.com— Eerie video of a giant panda showing up at Senator Chris Dodd's house in DC. Looks like he had an agenda: exposing Dodd's Countrywide Financial scandal. Watch the video!
Jun 17, 2008View in Crawl 4
Did you actually believe a 50K salary = 500K home?Did you really think "real estate always goes up"?Did you not notice that little thing we called the "tech bubble" that popped in 2001?Etc.Stop making excuses for people who have no concept of personal responsibility.
Hmmm let's connect the dots shall we?1) Homeowners bought too much house, paid too much for it, used their house as an ATM, or any combination of the above, and are caught with their pants down when house prices stopped appreciating or rates start resetting2) Banks made risky loans that in hindsight have no chance in hell of being repaid, and are also caught with their pants down3) Bleeding-heart liberals wanted to save homeowners from foreclosure using taxpayer dollars4) They count on corrupt politicians on the take to ride to the rescue5) Corrupt politicians save the banks instead, by asking the Federal Reserve lower the interest rate and print money to lend to the banks, backed by the full faith and credit of the US Taxpayer6) The lower interest rate causes the dollar to slide, encouraging investors to hedge against it by investing in commodities. Since oil is priced mainly in dollars, it causes oil prices to soar along with other commodities. Everything becomes more expensive. Folks eat mud cakes in Haiti. Children starve in 3rd world countries.7) Will the US Treasury be on the hook when investment banks who use junk mortgages as collateral to borrow from the Fed default on their loans? We shall see.8) All of this because people think we should bail out the financially irresponsible, by ruining it for everyone else.
tkeeleyJun 17, 2008
I swear I saw that guy on the metro.
1337chicJun 17, 2008
Good to see an awesome title on Digg again.Down with Dodd!
edstateJun 18, 2008
Did you actually believe a 50K salary = 500K home?Did you really think "real estate always goes up"?Did you not notice that little thing we called the "tech bubble" that popped in 2001?Etc.Stop making excuses for people who have no concept of personal responsibility.
ledaughJun 18, 2008
Dodd's antics are un-American. He should be ashamed.
y0tsuyaJun 18, 2008
Hmmm let's connect the dots shall we?1) Homeowners bought too much house, paid too much for it, used their house as an ATM, or any combination of the above, and are caught with their pants down when house prices stopped appreciating or rates start resetting2) Banks made risky loans that in hindsight have no chance in hell of being repaid, and are also caught with their pants down3) Bleeding-heart liberals wanted to save homeowners from foreclosure using taxpayer dollars4) They count on corrupt politicians on the take to ride to the rescue5) Corrupt politicians save the banks instead, by asking the Federal Reserve lower the interest rate and print money to lend to the banks, backed by the full faith and credit of the US Taxpayer6) The lower interest rate causes the dollar to slide, encouraging investors to hedge against it by investing in commodities. Since oil is priced mainly in dollars, it causes oil prices to soar along with other commodities. Everything becomes more expensive. Folks eat mud cakes in Haiti. Children starve in 3rd world countries.7) Will the US Treasury be on the hook when investment banks who use junk mortgages as collateral to borrow from the Fed default on their loans? We shall see.8) All of this because people think we should bail out the financially irresponsible, by ruining it for everyone else.
thomasjkeeleyJun 18, 2008
Where the hell is my VIP loan, at that rate I'd be smooth sailing!
Closed AccountJun 18, 2008
I was thinking.. how did the panda know?!?