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“Apparently now we have a foreclosure-based economy.”
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Foreclosure Crisis | ||||
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Thoreau comments:
Now, I do realize that there might be economic repercussions if bankers are unable to recover some of their losses. Fortunately, I have a solution: They can sell their own organs to raise cash. I have a bit of damage on my cornea, my brother has a less-than-perfect cardiovascular system, and most of Ireland could use a new liver. So there’s clearly a customer base.
Video via TPM.
Addendum, Later That Same Day:
Stewart thought he was being facetious with the crack about a “foreclosure-based economy.”
In a report that at attorneys-general of at least 40 states are preparing to investigate the fiduciary and legal irresponsibility of the banksters, Bloomberg includes this tidbit:
“If you have a national moratorium on foreclosures, that’s a problem,” Paul Miller, an analyst for FBR Capital Markets Corp. in Arlington, Virginia, said in a phone interview. “The longer you drag out foreclosures the longer it takes to get through” the housing slump, he said.
Of course, he is wrong, as any student of Kepner-Tregoe could tell you.
A moratorium would be a symptom.
Incompetence and fraud are the problems.
