Tuesday, March 15, 2011

foreclosure agents



“Federal securities laws do not become optional when the news is negative,”


Really? How quaint.


Haven’t we spent the last two years learning that there are simply no applicable laws when the lords of finance are inconvenienced. None.


This Fannie/Freddie business is just a furtherance of “pretend and extend”. Wait long enough, do little enough, and the defaults will eventually dry up. Everyone who matters will be made whole, or near enough, and the annoying little people will be scraped-off in the process (home owners, pension funds, etc.). Problem solved, privatization ho! Personal responsibility and moral probity restored in our market-based, job-creating, moral-hazard-free utopia.


The only fly in the ointment at this point are a few pesky court cases from investors (who might matter, but are no match for Goldman) and local jurisdictions whose laws and budgets were savaged by MERS. Luckily, we have the Supreme Court we need to ensure all of that comes to nothing. By the time binding decisions are reached, it won’t matter anyhow.


It’s starting to look just like civil liberties under Obama. By embracing the policies of their predecessors, Democrats are enshrining and mainstreaming the worst of an extreme Randian ideology ultimately recanted by none other than its high priest, Alan Greenspan. Even though their clothes are now long-gone, the proud, naked emperors of America walk tall. Once you own the government and the media, why the hell not?




“Federal securities laws do not become optional when the news is negative,”


Really? How quaint.


Haven’t we spent the last two years learning that there are simply no applicable laws when the lords of finance are inconvenienced. None.


This Fannie/Freddie business is just a furtherance of “pretend and extend”. Wait long enough, do little enough, and the defaults will eventually dry up. Everyone who matters will be made whole, or near enough, and the annoying little people will be scraped-off in the process (home owners, pension funds, etc.). Problem solved, privatization ho! Personal responsibility and moral probity restored in our market-based, job-creating, moral-hazard-free utopia.


The only fly in the ointment at this point are a few pesky court cases from investors (who might matter, but are no match for Goldman) and local jurisdictions whose laws and budgets were savaged by MERS. Luckily, we have the Supreme Court we need to ensure all of that comes to nothing. By the time binding decisions are reached, it won’t matter anyhow.


It’s starting to look just like civil liberties under Obama. By embracing the policies of their predecessors, Democrats are enshrining and mainstreaming the worst of an extreme Randian ideology ultimately recanted by none other than its high priest, Alan Greenspan. Even though their clothes are now long-gone, the proud, naked emperors of America walk tall. Once you own the government and the media, why the hell not?




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