The Ranting Room

 

So creating, marketing and selling sub prime mortgages is perfectly acceptable, and if a hedge fund makes serious losses as a result they'll be bailed out with taxpayer's money anyway.

 

If, on the other hand, anybody falls for the hard sell and actually takes a sub prime mortgage, it's their own fault if interest rates rise and they can't meet payments.

 

I agree that people should read the small print very carefully before signing a mortgage agreement, but lenders should lso execise diligence. Those mortgages didn't spring spontaneously from the aether and they didn't sell themselves. Hedge funds were not blackmailed into creating them and estate agents (or realtors) did not draw them up with guns against their heads; why absolve them from any responsibility?

 

This  stock market meltdown that has apparently been a more serious crisis than genocide in Rwanda for 's sake has been triggered because apparently reputable institutions have been lending loads of money to people with bad credit ratings, no assets etc (NINJA - No Income, No Job, no Assets) and now they're ing surprised that they can't pay it back when interest rates go up. So what happens? All those financiers who parrot 'you can't interfere with the market' and 'the unseen hand of the market will regulate things' expect central banks to bail them out - which in many cases the ing, ing s have actually done to the tune of billions of dollars. Is any of this going to help the poor s whose homes are going to be repossessed? Like arse it is. Effectively it's like going into a bookmakers, betting your entire salary on a 100/1 outsider and then expecting the bookmaker to refund you when the 3 legged donkey you backed finally limps past the finishing post about a week late. If the dozy s want to be unregulated they should accept the ing consequences of their bad decisions (despite frequent protestations that they know what they're doing). Let's see these so-called libertarian capitalists stick to their principles when it all goes  up for a change !

 

And don't get me started on Squarebob Soungepants - what an irritating frtting waste of pixels - I'm more an Invader Zim kind of guy (all hail Jhonen Vasquez and NNY!) - if you are going to pretend to be subversive you might as well be quting subversive if you ask me, otherwise what's the krtionating point.