Category Archives: Political

Chronicles of the Absurd, Grinds My Gears, Political

Inside Job

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View of NYC skyscapers
The film that cost $20,000,000,000,000 to make

I just finished watching Inside Job, a documentary about what caused the financial crisis of 2008.

I first learned about Mortgage Backed Securities when I developed a course for Fannie Mae in the 1990’s.  And then came across the concept again when I developed training for the FDIC just prior to 2000.  What has always struck me as odd is the inability of subject matter experts to clearly describe what Mortgage Backed Securities are and how derivatives work.  It begs the question…

If these regulators didn’t understand them, how could they possibly be regulating them?

What I really don’t understand is why the executives that allowed this to happen have not been prosecuted.  At the very least, why haven’t their assets been seized?

Why do Angelo Mozilo and Richard Fuld get to keep their ill-gotten gains?

 

Angelo Mozilo
Angelo Mozilo, former CEO of Countrywide

 

Richard S. Fuld, Jr. former CEO of Lehman Brothers

This says it all…

Boiling with Rage!
Boiling with Rage!

 

Music Sound Noise Audio, Political, silly

RUN AWAY BARACK! RUN! HE’S HUNGRY!!!

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OH MY GOD! I CANT WATCH!

Grinds My Gears, Political

Are there a lot of Mormons in New Jersey?

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So, the news is a buzz this morning about how NJ Governor Christie came to the defense of Mitt Romney during a campaign rally at a high school.

When reading the article, you can decide for yourself if Christie really put his best Tony Soprano on it. However, to me, when reading the article, all that came into mind was this song: