I was talking with an analyst at one of the large banks who kept insisting the bailout is necessary. When I asked for a breakdown of toxic assets into those backed by assets (i.e. real mortgages), and those related to CDs and CDOs, his response was... well you did your homework. The response floored me. It was so obvious that they believe main street has no clue whatsoever.
[The response floored me. It was so obvious that they believe main street has no clue whatsoever.]
Yep, and that's a belief founded within years of observing the suckers they got to "Sign here" on exploding mortgages; the same mortgages they now want to dump on all of us. There's no remorse evident at all among these thieves.
Just as the scorpion stung the frog who was carrying it across the river, so these Con Artists do what they do - it's just their nature.
Dig around here on FR and you'll find posts by folks boasting of "taking advantage of stupid people". Is it just a coincidence they're often the same ones who want that 700B bailout?
They stung the frog, so let them drown with it - 'cause this is America and we've got lots of tadpoles.