A CDO is a collateralized debt obligation, a structured asset-backed security. The most notorious ones were backed by subprime mortgage bonds. End the trial and hang this guy up by his thumbs.
Leave the poor man alone. If you are stupid enough to buy a half mil house on a $36K income, should you keep it? If you are greedy enough to back that loan, better luck next time. If you’re a elected official trying to buy vote by giving away taxpayer money, you got that rope ready?
i read an article about all the voodoo economics going on these days which stated that the only cure for the rampant greed was to return to the gold standard. none of the world’s currencies are backed by anything but promises to pay, and that’s what allows room for all the greed to manifest itself. (article’s opinion. not necessarily mine. but it sounded pretty accurate.)
Ah, the gold standard…if it was good enough for Herbert Hoover, it should be good enough for us, right?
The reason the major countries of the world abandoned the gold standard in the 1930s was that it was hamstringing their ability to respond to the global Great Depression – it’s inflexible by its nature. And before that, “rampant greed” laughed at the gold standard, and had no problems flourishing in its presence.
Rampant greed is hard-wired into our corrupted human nature. The cure for that has been around for a couple of thousand years, but not too many people are sincerely interested.
Templo S.U.D. almost 14 years ago
I’m as confused as the fink. What did he ask the accused?
ladywolf17 almost 14 years ago
Cat got my tongue, so I can’t help you.
ChuckTrent64 almost 14 years ago
That’s why congress members have staff’s…..for interpretation of their own questions.
moronbis almost 14 years ago
Rodney is not the person you should ask.
Hillbillyman almost 14 years ago
The King is a ‘Despot’…and a Fink.
ksoskins almost 14 years ago
A CDO is a collateralized debt obligation, a structured asset-backed security. The most notorious ones were backed by subprime mortgage bonds. End the trial and hang this guy up by his thumbs.
Rakkav almost 14 years ago
You could hang this guy merely for the unnecessarily complexification of the English language via his actions.
peter0423 almost 14 years ago
I can think of something better than his thumbs to hang him by…but this is a family-friendly place.
What gets me is that, in the world of Wall Street – unlike Id – you can lie, cheat, and steal without technically breaking the law.
dinosaur123 almost 14 years ago
SCAATY_423 said, 17 minutes ago
I can think of something better than his thumbs to hang him by…but this is a family-friendly place.
What gets me is that, in the world of Wall Street – unlike Id – you can lie, cheat, and steal without technically breaking the law.
That’s because LAWYERs write the bills that become law.
twj0729 almost 14 years ago
Well then, let’s just get rid of all the lawyers! I think I read that someplace!
freeholder1 almost 14 years ago
Derivative humor. (Doesn’t the King OWN the banks? Was his Golden Parachute too small?)
lewisbower almost 14 years ago
Leave the poor man alone. If you are stupid enough to buy a half mil house on a $36K income, should you keep it? If you are greedy enough to back that loan, better luck next time. If you’re a elected official trying to buy vote by giving away taxpayer money, you got that rope ready?
freeholder1 almost 14 years ago
Ah, lew. when was the last time they had elections in ID? :-)
Me_Again almost 14 years ago
It makes more sense than his speeches…
Wildmustang1262 almost 14 years ago
Maybe King Fink should be regretted forever!
starguy almost 14 years ago
So Barney Frank, et al, were financial advisors to the Fink, for the CDO’s?
http://hotair.com/archives/2008/09/29/video-democrats-insist-nothing-wrong-at-fannie-mae-freddie-mac-in-2004/
yyyguy almost 14 years ago
i read an article about all the voodoo economics going on these days which stated that the only cure for the rampant greed was to return to the gold standard. none of the world’s currencies are backed by anything but promises to pay, and that’s what allows room for all the greed to manifest itself. (article’s opinion. not necessarily mine. but it sounded pretty accurate.)
peter0423 almost 14 years ago
Ah, the gold standard…if it was good enough for Herbert Hoover, it should be good enough for us, right?
The reason the major countries of the world abandoned the gold standard in the 1930s was that it was hamstringing their ability to respond to the global Great Depression – it’s inflexible by its nature. And before that, “rampant greed” laughed at the gold standard, and had no problems flourishing in its presence.
Rampant greed is hard-wired into our corrupted human nature. The cure for that has been around for a couple of thousand years, but not too many people are sincerely interested.