Friday, October 03, 2008

How Wall Street got rich through GREED

Everyone agrees that our financial crisis was caused by greed. Naturally, this is a correct assessment because it was formed by consensus.

But how, you ask, did greed make the Wall Street bankers so rich?

Simple. Greed drives businesses to sell things to customers who cannot afford to pay for them.

Let's look at an example:

Say you want to buy a house, and can only afford $100,000. A rich capitalist might discover this, and the following conversation would ensue:

You: I want to buy a $100,000 house because I can only afford to spend $100,000.

Capitalist: Nonsense, you can afford a $300,000 house, easily, and I can lend you enough money to make it happen.

You: There's no way I can afford a $300,000 house; I'll never have enough money to pay back that loan!

Capitalist: That's a swell haircut you have there.

You: Thank you! Of course I can afford a $300,000 house! Yes I can! Yes we can!

At this point, the capitalist lends you $300,000 -- knowing full well that the loan will never be paid off. You struggle to make payments, but you...just...can't. The greedy capitalist loaned you $300,000 and you only paid back $100,000! Need I elaborate further on how this has made capitalists rich? (And how this further oppresses the Palestinian people?)

It's my understanding that automobiles are sold the same way. Greedy auto salesmen often sell $30,000 cars to people who can only pay $10,000.

Fortunately, the government, which by its very definition cannot ever be greedy, is only asking for a mere $700,000,000,000 contribution to make us all investors in these loans.

I weep at the fairness of this.

God Damn George Bush; he created this mess.

God Damn the U.S. of KKK!


Anonymous said...


Your beloved Democrats started this mess - It was Jimmy Carter and then Bill Cinton that changed the banking system regulations to get minorities and other people who couldn't afford mortgages into a house. Admirable goal - but if they have no business having a mortgage if they can't pay it back then they shouldn't be able to get one.

You'd think you could use ONE of those beloved PHDs and have a rational thought rather than pie in the sky idealism. But I guess that's what happens when you spend your life in academia rather than living in the real world...

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