US Tax payers may indeed be paying MORE for this mess – than the Iraq war.

And all in all ?

some nameless faceless desert redneck with a rifle ?

is NOT the one that’s responsible for your high high food and gas prices either.

I really don’t see the US being able to afford this sub prime/housing / toxic loan scam issue AND maintain presence in the middle east.

You chime in US exports are up, but you know ? manufacturing is down – so, statistics are near useless unless you get proper universal context, which some argue – is near impossible, but I’d hate to do the statistics on whether statistics can ever be 100%.

REally, people complain about the war costs

and this ? probably is more expensive – CERTAINLY will cost more if you consider all the ways it will hurt the US citizen.

Tighter credit

home equity maxed ? credit cards maxed ? sorry, even IF you paid on time for 20 years, no breaks here, here is one aspect no one seems to hit on, While some people pay their mortgages on time, fine, and those fast food workers who got the 500k home ? that couldn’t afford it after the 5 year party ended of no money down, no interest ? fine, and Treasury says fine too.

BUT – what’s missed is – those people who HAVE been paying on time, IF they are to be up against a wall next ? IF they get maxed out on HELOC’s and credit cards ? They will have NO WHERE to turn, and you know ? all the ‘federal assistance money’ e.g. welfare checks will have been ‘rendered’ and handed out.

If I were Paulson or Benanke, I’d not worry about the home owners, that’s not the responsibility either, I’d worry about credit issuers, without that ? we’re dead in the water at the consumer level.

Just imagine if China stopped issuing credit to the US ?

Just imagine

we’d be gone… Even the most hardcore prolife save the unborn folks wouldn’t be able to breed enough new worker ants to pay for what’s been passed onto them as the rest of live in denial pretending such debt passed onto the kids isn’t even ON the books.

It’s like we’re a farmer family, bad season, bad storms, and 1/2 the kids are gone – next year ? no idea how we’re going to plant OR harvest. And oh no ? what’s this ? we have to support a war over at the Hendersons ranch too (of course, I’m not suggesting the Iraq war is killing farm workers, this is an analogy !)..

If weather takes you down, hey, what CAN ya do right ?

but if bad decision making takes you or others down ?

you can remove them, fine them, jail them, or hey – last I checked Bush jr. executed plenty of folks down under.

“Get it honeycakes”

“Done deal, got it”

That about sums up how these toxic meat sausage links are trucked out of the sub prime rendering factory.

Not even animal grade food.

No wonder everyone is starting to get sick…

of hearing about it atleast

The way I see it ? If Savings and Loan as mentioned in THIS article was just shy over 1/2 trillion ? The sub prime running to 1.1 ? 1.2 Trillion ?

Gee – the entire Iraq fiasco cost ? 1.x trillion so far?

Gee – it’s like the US tax payers don’t even care or understand they’ve been fleeced.

I really DO think this is Savings and Loan part II

I for sure wouldn’t leave the kids OR my bank account in the hands of Paulson.

I’d not buy any debt products from Wachovia as much as I’d never buy a vegetable or food product on ebay.

Think about used items, where did they REALLY come from ? what’s their history ?

you just don’t know

so, would you buy a 50 million or 500 million CDO ? on ebay ?

used abuse and probably already inserted into the camels – mouth ?

And yet ? Wachovia sells and buys as if it’s on ebay.

Thing is, ebay has corporate regulators, there is almost no regulation here.

I’m a fan Narnia wouldn’t stay frozen forever regardless of the Pevensie children, I suspect global markets will to be not unlike an ant breeding colony chamber if you’ve ever seen one, it’s rather alien like, and that the ants can even architect or model those rooms with those passages ? Hey ? who’s brain is it anyway ! My point there is, macro and super are interchangeable, so, where I see a super-organism, and I take that model to a macro-economy ? Whatever will be will be ?

I wonder if any of these yayhoo’s who promote less regulation would prefer their surgeon had less regulation during their next operation.

There would likely be liability.

I wonder what kind of liability is coming down the road from these institutions that can sue, once it’s proven there was ‘abuse’ in the product originator.

For example, paying a 120 + million fine doesn’t exempt you from the new lawsuits that open up using the NEW data one reveals – ‘oh yes, we lied, and we’ll just pay the fine’.

I mean, if a murder after the trial ends – found innocent goes ‘I did it’ – lawsuits pile in, and we’re just not seeing the liability suits yet in the financial sector are we ?