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Saturday, February 27, 2010

Those damned Deals

What's Mallard raving about today?

Education, Sub-Prime Loans.

Let's see...

Educators trying to increase the amount of funding they receive by whatever means are given to them under current law.

Mortage lenders making bad loans because they assume the housing market will continue to go up, under any circumstance.

Why, these things are exactly the same!

And let's ignore the finance banks betting on these bad loans, because the whole economic crisis...nothing to do with Goldman Sachs, it was caused by poor people.


Factinista said...

Although this is inane, I can see why Tinsley places so little value on the education system. After all, why go to school for goodness-knows-how-many years when you can just scribble down a few half-rate drawings and a short rant every day for a living?

exanonymous said...

Wasn't the sub prime mortgage thing the result of a free market run amok?

After all, it was financially to the banks' advantages short term to give such loans as you either lock the person into a massive debt cycle that has them paying triple or more what you gave them, OR they declare bankruptcy and in the future you are perfectly justified to charge 40% interest rates from the beginning. The credit card companies came to the same conclusion and do the same thing, so I have a hard time believing that this is because the government forced those unwitting banks to lend to stupid poor people.

As for the people, well, some bare some responsibility, but long term debt calculations isn't exactly the easiest math to understand and something the education system sometimes leaves for the college level, and others are the middle class who ran into the crisis of being unemployed in a highly competitive job market. The shrinking middle class isn't because they're all becoming rich.

Tog said...

If the sub-prime mortgage crisis was the result of a free market run amok, then it would follow that a completely-unfettered free market is not flawless.

Therefore, the crisis was NOT the result of a free market run amok! Kyuu eee dee!

This has been Logic by Bruce. Be sure to join us tomorrow, when I'll explain the Laffer Curve, and we'll see how Ronald Reagan could outspend Communism into nonexistence while still being very conservative! Later, I'll tell you why Climate Change is absolutely nothing to worry about, yet CFLs will DESTROY THE ENVIRONMENT! BLARRRRRR!!

Paul Smecker said...

I might just be wantin' a bagel with my coffee.

Iron Dragon said...

This is rather obnoxious, I do wonder what Tinsely would actually want us to do with schools. Vouchers, which are the frequent offering, are imperfect as religious institutions are more likely to indoctrinate than educate, and in most cases the students that really need the help won't be getting vouchers.

rewinn said...

I like the was Drinkley is blaming the collapse of the unregulated market on the people who bought mortgages instead of the people who sold them.

If you're willing to give me $500,000 without checking whether I even have a job, who's the fool? Me for taking your money for free or you for offering it .... or your investors for not only letting you do it, but setting up your incentive structure so that you must do it, or lose your job to someone who will?

Personally, I applaud Tinshley's implied support for regulating financial institutions ... not that he recognizes the implication of his statement today.

Neo Tuxedo said...

Iron Dragon skrev:

I do wonder what Tinsely would actually want us to do with schools.

Destroy them and salt the ground.

This has been another "Snappy Answers to Sane Questions".

Kip W said...

Hell, if 26% public support is a continuing mandate, then a 40% score must be an A+.

NotannonNotcow said...

I've been snowed in since Thursday; I don't even know if my paper's been delivered. Yeah! No Duckie!

WV: fingesse: Guess how many fingers Bruce told the cop he was showing...

I hate chuck asay said...

I know a lot of you hate me, but this is an important story about a Representative: Yes, Mr. Franks, being able to save myself from 20 years of cleaning shit and listening to sscreams is, exactly, the same as being kidnapped, tortured and worked to death.

deepbeep said...

If anyone is interested, The Giant Pool of Money by This American Life provides the best summary I've heard of the housing market crash.

Kaitlyn said...

Let's bail out the schools, they're too big to fail!

FFS, I shouldn't give a damn. I don't want to teach, I'm at college, so it doesn't personally affect me. (Well my mom works as an overworked and underpaid special ed assistant so it does.)

But even if she had some white collar job that paid a living wage, I'd still care. I happen to think other people matter, and because we're stuck with countries, I guess I'll start with people in my country.

I have a theory kicking around in my head after learning about the recent shift to modern nation-states, in a few hundred years, we may get rid of separate nations all together. Which would probably be a good thing. Hopefully without Robot Nixon in charge.

Oh what am I talking about, if that ever happens I'll be dead and if it's not about me, I don't care!


WF - cruptype. The font used in Mallard.

Bill the Splut said...

I know a lot of you hate me, but this is an important story about a Representative

When you said "Mr Franks," I thought you meant BARNEY Franks. Then I read it. If abortion is the worst thing ever, why is contraception and sex ed the next worst thing? And why does it not bother these people that we have the worst child mortality rate in the developed world? (Because: before they're born, they're perfect angels. Once born, they're WELFARE QUEENS AND DRUG ADDICTS AND GANGSTAS! DEATH PENALTY! I'm NOT A RACIST!!!)

We don't all hate you, IHCA, despite your...occasional misfocused enthusiasm. But we ALL hate Chuck Asay!

His latest says that we need to kill more women and children with bombs. As bad as our Brewski is, even he wouldn't come right out and say this--and only a week after posting an anti-abortion strip accusing liberals of racism, and 2 days after encouraging childhood obesity. Dead babies only count until they're born! Then they can drink corn syrup until diabetes kills them!

WV: undwoo; Underoos for people who believe in GOP talking points; Undwoos come with built-in Depends for when they piss their pants in fear of...well, everything, except the stuff sane people worry about, like creating future terrorists in the name of fighting terrorists.

Rootbeer said...