Tuesday, November 11, 2008

Forty Five: Rewarding Incompetence & Irresponsibility

"It's not my fault," said the borrower who lied on his loan application, "the mortgage broker told me this was the best loan for me; besides, he knew I couldn't pay the loan, but said I could always refinance as the house price increased."

"It's not my fault," said the mortgage broker, "all I do is take the app; the underwriters decide who gets a loan."

"It's not my fault," said the underwrister, "Fannie and Freddie and FHA and Angelo Mozillo told us to make these loans."

"Its' not my fault," say the Fannie and Freddie executives, "Barney Frank and Chrisopher Dodd, and yes, even Barack told us to shovel this money out to people who really have no business owning a house, much less being on the hook for for a long term loan."

"I've got a great tan, don't I?" said Angelo, "and Chris Dodd is one of my very best friends!"

"It's not our fault," say Christopher and Barney, "or maybe it really is, but we don't give two shits, because at the end of the day, government is going to regulate, take over, and in general swallow this whole mess, which means an exponential spurt of government growth, which in turn means more Deomctratic voters, which further cements our positions as parasites for life, living off the ever-dwindling numbers of chumps who pay their taxes and bills and try to create something of value with their efforts."

The End.

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