To show how tough they are, congressmen summoned Goldman and Sach’s executives to Washington, and harshly ranted at them for selling their customers securities based on mortgages that they knew or should have known were $##%, while at the same time continuing to pour great gobs of taxpayer money all over Goldman and Sach
Month: April 2010
Have leftists guilt tripped you into getting screwed?
Probably not as much as Donna Ron was. This rapist, terrorist, and bomber, is a frequent visitor to the Whitehouse, one of the most powerful men in academia, and the major ghostwriter of Obama’s book “Dream’s of my fatherâ€.
The strong horse
As a result of our defeat, Arab terrorists have moved into Korengal valley. Now Al Quaeda has safe haven in Korengal and their objectives will not be restricted to protecting the freedom of those in Korengal, but destroying our freedom in lands far from Korengal, murdering Jews and Americans, wherever we may be, anywhere in …
Losing in Afghanistan
In trying to impose the Kabul government on them, we are imposing injustice. Thus the only possible ways of winning are to rule them ourselves, colonial style, or slaughter enough of them that the Taliban decides not to tolerate anyone who goes looking for trouble with far away infidels.
The crisis explained
Substantial parts of this article are pillaged wholesale from Ryan Barne’s excellent account of the crisis, and Mortgage Guarantee Insurance’s colorful account of the crisis. I steal from the best. And thanks to the commenters that pointed out numerous errors. In 2001, the Federal Reserve began cutting rates dramatically, dropping to 1% in 2003, in …
Basel II and the destruction of civilization as we know it.
Thus the decision as to what is a safe loan is moved to politics and the government bureaucracy, far far away from anyone who knows the borrower or has actually seen the assets.
Bank “deregulationâ€
It is often claimed that the disaster was produced by deregulation. What deregulation you may ask? Well, mostly, the dismantling of Glass-Steagall. I don’t think dismantling Glass-Steagall caused the crisis, but it is undeniable that if Glass-Steagall had remained in effect, the crisis would have been far less severe, for Glass-Steagall restrained financial institutions from …
Mortgage Fraud, predatory borrowing:
There have been numberless highly successful prosecutions for predatory lending, even though there is no plausible evidence that predatory lending has ever happened in recent decades, nor has such evidence ever been presented in court, nor is it plausible that predatory lending could be profitable except for lenders who break the borrowers legs and arms …
Once upon a time, the living dead were scary
Miller tells us that a society that has difficulty recognizing monsters in its art, will probably have trouble recognizing terrorists at its airports.
Why socialism needs killing fields
Bryan Caplan asked why socialism turned out evil and proposed three competing explanations. Volokh Conspiracy followed up, and a horde of socialists appeared out of the wood work, objecting to the premise of the question, claiming that socialism was just fine. So time to re-run my golden oldie: Why socialism needs killing fields.Â