Thursday, December 20, 2007

Well Duh Serinitis is Contagious


WSJ article via the Phoenix Business Journal:
Bank of America CEO Ken Lewis told editors of the Wall Street Journal that he's worried about borrowers with strong credit scores not making loan payments if the housing crisis worsens.

"There's been a change in social attitudes toward default," Lewis told the Wall Street Journal. "We're seeing people who are current on their credit cards but are defaulting on their mortgages. I'm astonished that people would walk away from their homes."

Apparently even borrowers with strong credit scores are finding it easier to walk away from their mortgages, especially if they put little or no money down on houses and condos purchased for investment purposes.

Let's be clear here Ken. It is your own damn fault. Millions of people have Googled Casey and know that you aren't going to do anything about lending fraud never mind lending mistakes. You destroyed the ethical considerations of the US financial system. Reap what you sow.

22 comments:

wagga said...

First, some one has to say it:

Give the recent level of civil discourse here lately -

Serenity is better serinity.

wagga said...

Serenity is better than serinity.

In all the excitement, "than" was left out.

Metroplexual said...

Amen Rob.

Edgar said...

Ken Lewis isn't an idiot, he just plays one on television. It is cya time, and these guys are gonna act like drooling morons for the duration. I am seriously pissed off that I didn't get me some of that mortgage fraud money. They were giving it away, and I missed the boat. I'll be ready next time, it's every bird for himself now. This is Russia, times ten.

Rob Dawg said...

Yea, though I walk through the valley of the shadow of debt, I will fear no consequence: for the Fed art with me; thy credit window and thy staff they comfort me.

Property Flopper said...

You anoint my head with credit; my cashback overflows. Surely creditors and debt will follow me all the days of my life, and I will dwell in the house of bankruptcy forever.

Rob Dawg said...

"Woe to those who join house to house and field to field, until there is no more room, and you are made to dwell alone in the midst of the land. Jehovah of heaven's armies has sworn in my hearing: "Surely many houses shall be desolate, large and beautiful houses, without inhabitant." Isaiah 5:8-9

And I didn't have to change a word.

Property Flopper said...

clap, clap, clap!!!

Very nice Rob.

Edgar said...
This comment has been removed by the author.
Edgar said...

Psalms 37:1-8 "Fret not thyself because of evildoers, neither be thou envious against the workers of iniquity. For they shall soon be cut down like the grass, and wither as the green herb. Trust in the LORD, and do good; [so] shalt thou dwell in the land, and verily thou shalt be fed. Delight thyself also in the LORD; and he shall give thee the desires of thine heart. Commit thy way unto the LORD; trust also in him; and he shall bring [it] to pass. And he shall bring forth thy righteousness as the light, and thy judgment as the noonday. Rest in the LORD, and wait patiently for him: fret not thyself because of him who prospereth in his way, because of the man who bringeth wicked devices to pass. Cease from anger, and forsake wrath: fret not thyself in any wise to do evil."

Edgar said...

Lord, won't you buy me, a Mercedes Benz...

My friends all have HELOCs, I must make amends...

Worked hard all my lifetime for chump change,

So Lord, won't you buy me, a McMansion on the range.

Edgar said...

Thus saith Edgar Almighty:

And I will strike down with great vengeance upon the evil maggot banksters, fraudsters, and flippers. All are scum in my sight.

Edgar said...

Tenth commandment: Thou shalt not covet thy neighbor's MEW.

Lou Minatti said...

Ken Lewis will reap a fat stock option package, even if his cash bonus is "lean." The BofD on these companies do not seem to understand that shareholders and everyday citizens are fed up. When the little people shout loudly enough, politicians act. They tend to pass stupid laws that will cause damage.

The fatcats like Orangezillo plead ignorance, while all of us following this clusterfuck over the past 3 years knew precisely what the end result would be.

Maybe it's time to outsource CEOs. There are plenty of smart, talented Indian people who could do a better job of running these companies and do so for a fraction of the cost.

wagga said...

Maybe it's time to outsource CEOs. There are plenty of smart, talented Indian people

Which brings us to:

An old Indian chief sat in his hut on the reservation, smoking a ceremonial pipe and eyeing two US government officials sent to interview him.
"Chief Two Eagles," asked one official, "you have observed the white man for 90 years. You've seen his wars and his material wealth. You've seen his progress, and the damage he's done."
The chief nodded in agreement. The official continued, "Considering all these events, in your opinion, where did the white man go wrong?"
The chief stared at the government officials for over a minute and then calmly replied, "When white man found the land, Indians were running it.
No taxes, no debt, plenty buffalo, plenty beaver, women did all the work, medicine man free, Indian man spent all day hunting and fishing, all night having sex."

Then the chief leaned back and smiled, "White man dumb enough to think he could improve system like that.

FlyingMonkeyWarrior said...

Thursday December 20, 07:26 PM
Descendants of Sitting Bull, Crazy Horse break away from US
Enlarge image

WASHINGTON (AFP) - The Lakota Indians, who gave the world legendary warriors Sitting Bull and Crazy Horse, have withdrawn from treaties with the United States, leaders said Wednesday.

"We are no longer citizens of the United States of America and all those who live in the five-state area that encompasses our country are free to join us," long-time Indian rights activist Russell Means told a handful of reporters and a delegation from the Bolivian embassy, gathered in a church in a run-down neighborhood of Washington for a news conference.

A delegation of Lakota leaders delivered a message to the State Department on Monday, announcing they were unilaterally withdrawing from treaties they signed with the federal government of the United States, some of them more than 150 years old.

They also visited the Bolivian, Chilean, South African and Venezuelan embassies, and will continue on their diplomatic mission and take it overseas in the coming weeks and months, they told the news conference.

http://nz.news.yahoo.com/071220/8/3db9.html

sk said...


wagga
Which brings us to:

An old Indian chief
...


Fucking ignoramus. No, not the old Indian chief.

-K

Debbie said...

And thou shalt sayith "duh". From the highest of hills, thou wilst proclaimith to the whole of mine creation. "Duh". Whenith thou readith "no money down" followed by an expression of surprise, I commandith you to speakith the word. Say it not soft, that the only souls who hear it are small chum. Speakith not it with normal voice, so that only those nearby might turn their heads. Whenith you hearith the words "no money down" spoketh by suited clown, followed by such clown's disbelief at mortgage defaults, I commandith you to scream with a steadfast voice "Duh... motherfu_ker, DUH!" So goith the lesson.
-Flying Spaghetti Monster 3.2

Akubi said...

Human. all too Human...
Part I: Of first and last things...
Itsallgood until the shit hits the fan.
Signed,
Akubi
2.7

Old said...

There is a fellow named Radosh who is taking newspapers to task for how they decide to report or not report expletives. It is very interesting stuff. He also is working on a book about the radical christianists in the U.S. Check out Radosh.net, if you are interested in the subject.

chickenlittle said...

akubi:

Du meinst "Menschliches Allzumenscliches" oder?

JohnDiddler said...

is it too easy to think that Bank of America knowingly secured the loan with real estate of inflated, unrealistic value? so, hmmm, they bought it, they get to keep it. is there some law that says banks need to support inflated prices? there's probably a law to the contrary: banks need to support the interests of their investors, and walk away from bubbles. and yet he's got some ethical problem with borrowers who go belly up. what a champ.