« Your gap is showing | Main | Are there no workhouses? »

Welcome to the casino

By Owen Paine on Wednesday March 21, 2007 12:57 PM

Yes, we had a bubble from Hell surge up under America's house lots, and yes it involved a veritable renaissance of sharpie Shylock practices worthy of a Lousiana carnival. But all this brouhaha over "predatory practices" is a sideshow. Take for instance this gotcha-Bushco post by my favorite inmate of the house of solidarity labor and shame, Nat Neumismatic:


... where he ends optimistically with this:

The new Congress seems more willing to grapple with the predatory lending problem, with Congressman Barney Frank from Massachusetts saying he would introduce legislation to restrict subprime lending.
Barney? That ferocious gerbil? We'll see. But even if we do -- even if Barney exposes the whole rotten Bushco scam-a-rama -- still the real story is not the fringe-y, colorful Dickensian mortgage underworld. It's the three-year main frame made by the Fed pump up of lot values, which events now unwinding will show has lowered all our boats by raising all our lot liens.

And the master Shylock here is not some latter day strip-mall tormentor of little Nell, but that inky-haired taxi dancer from Randmania, yes, I mean Alan of green stables.

Post a comment

Note also that comments with three or more links may be held for "moderation" -- a strange term to apply to the ghost in this blog's machine. Seems to be a hard-coded limitation of the blog software, unfortunately.


This page contains a single entry from the blog posted on Wednesday March 21, 2007 12:57 PM.

The previous post in this blog was Your gap is showing.

The next post in this blog is Are there no workhouses?.

Many more can be found on the main index page or by looking through the archives.

Creative Commons License

This weblog is licensed under a Creative Commons License.
Powered by
Movable Type 3.31