'Big banks, bumbling idiotsBy The Mogambo Guru
The really chilling news is that investment banks are being changed into commercial banks, which gives them the right to create - out of thin air, and then loan - money using fractional-reserve banking! Yikes!
They are now banks! These greedy, thieving, lying, staggeringly stupid weenies who are at the epicenter of the biggest financial catastrophe in American history are now being given the right to increase the money supply at their whim to satisfy the willingness of customers, and themselves, to borrow the money! Astounding!
This is so monumentally freaking outrageous that every muscle in my body had an involuntary spasm, precipitating an accidental hail of bullets from an ever-ready Uzi which shot the hell out of my clock-radio and the shelf it was sitting on. Of course, the wife and kids come running in, bellowing about how I almost shot them and how I am a crazy, irresponsible, horrible man and blah blah blah.
Not being in the mood for that whining crap, I thought that I could get them to shut up and go away if I reminded them that "A miss is as good as a mile", and then relate some "up close and personal" anecdotes about how I can remember a dozen times, off the top of my head, when each of them has been a LOT closer to death than this relative non-event, as I remember plenty of times in the past that I wished I could have strangled each of them because they were just (pause) so (pause) damned (pause) irritating.
"Sort of like right now!"
It didn't work, and to make it worse, nobody else is upset about this investment-bank-to-commercial-bank thing, which warns me that it must be time to re-examine my assumptions, whereupon I discover that I have, indeed, made a mistake!
It's just more of the same! Right now we have greedy, lying, thieving, staggeringly stupid weenies owning the banks, and tomorrow there will just be two more big banks owned by greedy, lying, thieving, staggeringly stupid weenies! Hahaha!
And it is not just the banks, as the FT.com article titled "The shadow banking system is unraveling" by Nouriel Roubini explains that "Because of a greater regulation of banks, most financial intermediation in the past two decades has grown within this shadow system whose members are broker-dealers, hedge funds, private equity groups, structured investment vehicles and conduits, money market funds and non-bank mortgage lenders."
Of course, this doesn't mention that all the money being multiplied by the shadow banking system was first created by banks, which may be what led James Turk of Free Market Money & Gold Report to say, "No one can doubt any longer that the United States is run totally for the benefit of the banks."
And thus it is no surprise that Bloomberg.com proposed that the Fed would soon be lowering interest rates, and that "Rate cuts would help the economy in several ways", the first of which, of course, is to "boost banks'
profits by lowering their cost of funds, something that the $700 billion rescue package before Congress doesn't do. That might encourage them to lend more freely."
At this, I broke out laughing, and I was sorry that I did, too, because I was taking a sip of coffee at the time and it spewed all over the place and I got a bunch of it in my lap. It looks like I did something awful in my pants, which actually works out well, since I have found that people let you let you go to the front of any line, especially lines in restaurants, when they see you messed up like that and hear you muttering under your breath, "AIDS? I don't have AIDS! Those people are crazy for saying I have AIDS just because I crap on myself! I'm going to kill them. Kill them all!
Kill! Kill!"'
They are now banks! These greedy, thieving, lying, staggeringly stupid weenies who are at the epicenter of the biggest financial catastrophe in American history are now being given the right to increase the money supply at their whim to satisfy the willingness of customers, and themselves, to borrow the money! Astounding!
This is so monumentally freaking outrageous that every muscle in my body had an involuntary spasm, precipitating an accidental hail of bullets from an ever-ready Uzi which shot the hell out of my clock-radio and the shelf it was sitting on. Of course, the wife and kids come running in, bellowing about how I almost shot them and how I am a crazy, irresponsible, horrible man and blah blah blah.
Not being in the mood for that whining crap, I thought that I could get them to shut up and go away if I reminded them that "A miss is as good as a mile", and then relate some "up close and personal" anecdotes about how I can remember a dozen times, off the top of my head, when each of them has been a LOT closer to death than this relative non-event, as I remember plenty of times in the past that I wished I could have strangled each of them because they were just (pause) so (pause) damned (pause) irritating.
"Sort of like right now!"
It didn't work, and to make it worse, nobody else is upset about this investment-bank-to-commercial-bank thing, which warns me that it must be time to re-examine my assumptions, whereupon I discover that I have, indeed, made a mistake!
It's just more of the same! Right now we have greedy, lying, thieving, staggeringly stupid weenies owning the banks, and tomorrow there will just be two more big banks owned by greedy, lying, thieving, staggeringly stupid weenies! Hahaha!
And it is not just the banks, as the FT.com article titled "The shadow banking system is unraveling" by Nouriel Roubini explains that "Because of a greater regulation of banks, most financial intermediation in the past two decades has grown within this shadow system whose members are broker-dealers, hedge funds, private equity groups, structured investment vehicles and conduits, money market funds and non-bank mortgage lenders."
Of course, this doesn't mention that all the money being multiplied by the shadow banking system was first created by banks, which may be what led James Turk of Free Market Money & Gold Report to say, "No one can doubt any longer that the United States is run totally for the benefit of the banks."
And thus it is no surprise that Bloomberg.com proposed that the Fed would soon be lowering interest rates, and that "Rate cuts would help the economy in several ways", the first of which, of course, is to "boost banks'
profits by lowering their cost of funds, something that the $700 billion rescue package before Congress doesn't do. That might encourage them to lend more freely."
At this, I broke out laughing, and I was sorry that I did, too, because I was taking a sip of coffee at the time and it spewed all over the place and I got a bunch of it in my lap. It looks like I did something awful in my pants, which actually works out well, since I have found that people let you let you go to the front of any line, especially lines in restaurants, when they see you messed up like that and hear you muttering under your breath, "AIDS? I don't have AIDS! Those people are crazy for saying I have AIDS just because I crap on myself! I'm going to kill them. Kill them all!
Kill! Kill!"'
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