As I sit and watch the financial markets eat themselves, it was brought to my attention by the lovely Kristin Freeman, that this is a rather new tune as compared to before.
Travel back with me, if you will, to 1999.
Ah, what a wonderful trip that was. As you can see, this sub-prime melt down came as no surprise. It was asked for, nay, begged for by the banking institutions of this country.
Will we ever learn that banks managing our money is like trusting a frat with your personal liquor stash.
When you come home and go to pour yourself a well deserved and hard earned drink, you find instead some strangers vomit all over the bottle, and little to no explanation as to where all your damned booze went and why. Then, when you start to ask about it, your landlord shows up out of no where, and tells you that they have a great idea to clean this up.
Why don't you give this frat some of your money so they can replenish their booze stocks?
Everyone is happy right? The landlord (who also owns the frat house) keeps his most valuable customers happy, and the frat gets to chug again this Friday.
Win-win right?
Oh, whats that? What about you? Well, since they went ahead and maxed out your card buying that booze, you will need to go ahead and stay late to pay it off, and go ahead and grab the interest while you are at it.
Well, maybe one day we will learn. If we can catch time between shifts that is not dedicated to sleeping or eating.
Ah, what a wonderful trip that was. As you can see, this sub-prime melt down came as no surprise. It was asked for, nay, begged for by the banking institutions of this country.
Will we ever learn that banks managing our money is like trusting a frat with your personal liquor stash.
When you come home and go to pour yourself a well deserved and hard earned drink, you find instead some strangers vomit all over the bottle, and little to no explanation as to where all your damned booze went and why. Then, when you start to ask about it, your landlord shows up out of no where, and tells you that they have a great idea to clean this up.
Why don't you give this frat some of your money so they can replenish their booze stocks?
Everyone is happy right? The landlord (who also owns the frat house) keeps his most valuable customers happy, and the frat gets to chug again this Friday.
Win-win right?
Oh, whats that? What about you? Well, since they went ahead and maxed out your card buying that booze, you will need to go ahead and stay late to pay it off, and go ahead and grab the interest while you are at it.
Well, maybe one day we will learn. If we can catch time between shifts that is not dedicated to sleeping or eating.
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1 comment:
The lovely Kristin Freeman indeed.
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