Subprime Loans: The Darwin Awards 2008
Idiot Investors Are Not My Problem
In comes the federal government on a white horse. They offer a hand to the poor idiots that over extended their budgets in hopes of cashing in the future. I don't know of many people that would buy a half million dollar house to flip unless they had insomnia and listened to the crap on early morning television. There is a fair percentage of American real estate investors I have yet to meet.
In a capitalistic society you have just as much right to fail as you do to succeed. That is capitalism. If you invest and screw up and the government bails you out, that is socialism. A few months ago I woke up in the bed that I made and paid for thinking that I was responsible for my actions. Now it seems that I and we are responsible for the actions of others that had money and were supposedly smart.
Because of these supposedly smart financial institutions, that did incredibly stupid things, assisted by herd mentality idiots, the US economy is suffering in order to maintain an impure financial gene pool. Stupidity is not a desirable trait for a strong nation. Stupid financial institutions and stupid investors need to learn from their mistakes. That is capitalism. Survival of the fittest
The warm and fuzzy attempts to help the stupid only allow the stupid to survive. Weakening the financial gene pool and causing the dollar to fall to all time lows. As in any industry, the financials need to collect their feces or move into oblivion.
With gasoline prices rising to their highest levels in our history, remember that our dollar is at its lowest level in history because of sub-prime idiots. Tell your friends that bought houses to flip, how to get to the nearest soup line. Then tell your congressman to screw the idiots, we are not going to bail out dumb arses.
This article was submitted for non-payment. Associated Content has not reviewed and does not endorse the views of this author.
Published by captdallas2
Florida Keys life inspires many to artistic endeavor. CaptDallas2 is no exception. Writing songs, music and articles fills his time off the water. From boating to how to wipe your butt, the politically in... View profile
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7 Comments
Post a Commentyep. We purchased a price inflated home ; but could afford it. Its value went down thanks to the other people who do not understand lending, make 40k a year and buy a 250k home and couldn't make payment. We wrote a check for 20k to SELL it. Now, with excellent credit, are having trouble getting a loan for a new home thanks to those who constructed this mess. And to top it off, now they want me to pay AGAIN through my taxes to bail them out of the mess. WOW.
Bear Sterns is the first nominee though they only had 2 B in sub prime paper.
Great article but I love the photo caption!
Great photo and caption Dallas...adds a bit to my ocean envy though;) It's a gray, damp, chilly day here...but I remain thankful for all days, no matter the climate or location. I readily admit that there times when I think I'd find more intelligent life at sea than on land.
DITTO! Ditto to everything you've said here - except I could never have found the same superbly effective wording.
I totally agreed with your article. I will tell my Congressman, but then there's Nancy.........Good article.
i have to admit: your pics always make me jealous that I'm not out on the water