Friday, February 20, 2009

mad as hell chicago tea party

If you watch CNBC you have seen this. It's worth watching.

It has an emotional appeal. Very much like the following clip from the movie, "Network".

I don't have to tell you things are bad. Everyone knows things are bad.

Ok after your emotional rant is over you might feel that "off your chest feeling", but is the problem any closer to being fixed?

Unfortunately, the problem comes from a system that's more complex than just some losers buying and spending on McMansions.

There's plenty of blame and greed to go around - Wall St. banks bundling mortgages, rating agencies giving those derivatives AAA rating, mortgage companies signing people without a background check, and people using their homes as ATM's.

The bankers involved in creating and selling those bundled mortgage securities didn't stop it. They didn't care. Suggest everyone watch CNBC's "House of Cards" documentary.

Also, here's another great scene from the movie "Network".

Now I'll go back to being as mad as hell.

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