Wednesday, March 24, 2010

Hey, Assholes

Great, so like 60% of people want us to throw bankers in jail or some shit for ruining everything and it's, like, yeah, I hate the fuckers, too, but hey, asshole guess what? FUCK YOU!

You're in the fucking market, eh? You loved your 401k from 01 to 08, didn't ya? What? was investing not another way to solidify your money while keeping it from the down trodden back when the market was climbing? Oh? Betcha ya even still got that 401k dontcha?

Throw your-fucking-selves in jail. this is the same shit as the fucking Iraq war. OMG ABU GRABBI WAS HORRIBLE.

you support war, you get fucking casualties. the generals are to blame, fo' sho', but so is your dumb ass.


Anonymous said...


Just out of curiosity when did the "fuck you payton Manning" tag come along? I hate the guy as well and absolutely loved when Tennessee won the national championship when he left proving how much of a winner he is...

Still didn't notice till like today...


draco malfoy the lemon said...

Ummm, NoT?

This line of "everybody was doing it, don't blame anybody"....

Pure McArdle.

spencer said...

So trying to save for retirement puts people like me in the same moral category as the Banksters McMegan figuratively fellates at every opportunity?

Um, no. Don't think so.

Of course, that might not have been your point. In which case, never mind.

Dhalgren said...

Ah Nutella,

While I agree with you that those who praised the wars and Bush Tax cuts deserved to have their investments deflated a little, there's a lot of former middle class folks like me, who protested policies left and right, and still lost their plush jobs (mine was at Lehman). So while I never saw a big bonus, am I still culpable. I suppose so. But I PAID MY DUES!!! :-)

It's assholes like Megan who should be n the dole.

Dhalgren said...

Oh, wait, Nutella. Were you mocking Megan in this post, right? You were emulating her logic? Silly me.

It's only Wednesday. Are you blasting dark music and drinking alone heavily already?

NutellaonToast said...

Nony, I've had that up since he lost the superbowl because I love reliving that moment.

Alice, I never said don't blame anyone. If you must demand a course of action from my sentiment here, it would be taht bankers don't deserve to be punished for doing thigns that we as a society have been lauding up until now. Everyone loved them when the stock market was going up, but stock market collapses aren't new.

Spencer, no, it's not my point. My point is that our society rewarded these people who were doing things taht anyone with a brain could see was destructive, and now we're pissed that they led us of a cliff despite our collective cheerleading.

Dhal, my point is not who deserves what or who did waht right or wrong. My point is that this system was everyobne's favorite until it wnet bad and now we need a scapegoat so bankers are it, but we were complicit in rewarding the behavior that led to this. It's like if you blamed your child for crying all the time, after spending years giving him candy for crying.

NutellaonToast said...

I don't meanto pick on any particualr individual. The thing that pisses me off is seeing these polls where 60% of the nation wants the bankers "punished" but that same 60% was totally happy with the system during the upswing. Hence the analogy to abu grabbi et al. You can't endorse a system and then act all superior when the very foreseeable negative effects of the system you've endorsed come to pass.

I feel totally righteous in thsi becasue I've always hated the market. I have never invested and don't plan to. i'd have made a killing because I was smart enough to predict the past two ups and one down of oil prices, as well as the collapse of the housing market, and I also knew that it was a damn sure thing that it was time to buy when the DOW was fucking 6k. I didn't and I won't, unless I ever take the energy to research a company thoroughly enough to be sure that it's not fucking evil before I invest.

Anonymous said...

Wow, what a stupid argument. It fails right at the point that you introduce the "everyone with a brain could see it was going to happen" claim. Plain bullshit, of course, since I'd wager and win that vastly more than 60% of people didn't have the foggiest fucking idea about anything.

More importantly, bankers claimed to be experts in these matters and they further claimed that what their industry needed was even less regulation and oversight because 'really, we got this'. We're "all" culpable for this mess in the same sense that we're "all" to blame for deaths from cancer because we haven't made it our life's work to cure it.

Anonymous said...

Everyone loved Enron's stock right up until it crashed. Right after it crashed, it was pretty clear there was a lot of fraud and manipulation of the books. Are people who invested in Enron to be blamed like the Enron execs?

Dhalgren said...

I agree with you there, Nutella. The system, while it fired on all cylinders, didn't raise any red flags among the public. When the Dow hit 10K for the first time in 1999, I had to be thinking that the Clinton boom would last forever. When I got a $10,000 bonus in 2000, I thought I would be employed at Lehman forever.

Enron put me in check. It should have put Lehman in check.

And I think I speak for a lot of people here that during the Real Estate bubble (2003-2006), we were smart enough to know that the 'Bush Boom' was not all it was hyped up to be. At least during the Clinton boom (1996-2000) our wages went UP. During the Bush years, the only way most Americans made big money was selling their houses.

ifthethunderdontgetya™³²®© said...

I'm going to throw a flag, too.

Call me zebra, but hear me boar.

1) How many people (that you know of) can describe what a credit default swap is?

2) How many know where those came from (hint: Phil Gramm, Glass-Steagall repeal).

3) And now for the bonus question: how much did credit default swaps contribute to the Bush-Cheney asset bubble?

P.S. I know the answers to questions 1 and 2. And I worked on Wall Street from 1983 to 1997. But I can't tell you the answer to question 3, it is fantastically complicated, and the people who could/should provide the necessary details have no interest in doing so.

Lurking Canadian said...

Most of those 60% are people who have been hearing from every pundit, economist, banker, investment advisor and taxi driver, for the past twenty years that (1) social security would be insolvent by the time they retired and (2) the stock market always goes up.

Most of them have also lived through the transition from defined benefit corporate pensions to defined contribution or no pension at all.

Lots of people made the mistake of leaving their retirement savings in equity too long (it is not a good idea to be relying on capital gains to buy the groceries), but I can't fault people for investing for their retirement when that seemed like the only sensible thing to do.

Anonymous said...

whoa, what 401k? fuck you, rich boy

Susan of Texas said...

I watch HGTV's show about people buying houses. Buyers don't have a freaking clue. They are depend on the professionals to do their job because they can't or won't learn enough to see the pitfalls. They are afraid or have too much else to do or are trusting of authorities.

Susan of Texas said...

spelling fail

NutellaonToast said...

enron committed already illegal things. My point isn't that these guys aren't vile assholes. My point is that they did what they were fuckign eCNOURAGED to do. They were like INVESTORAMA ALWAYS GOOD IDEA.

They weren't any stupider or more immoral than any of the previous generations of bankers who brought us the great boom, prequel to the bustening. That is not to say that they're moral, that is only to say that the public is capricious and amoral, a collective bunch of libertarians.

To call for the heads of the men you cheered on with a gamblers blindness isn't right.

I don't care waht the fucking experts say. When you ivnest in a commoditiy that is 300% more expensive than its historic averages for no discernible reason, you're an idiot, whether you're an expert or not.

People made that mistake for the same reasons they're justifying the vilifications now. They are emotionally driven morons and shouldn't be trusted.

Downpuppy said...

"encouraged" is a key word.

A ton of what happened is & always was flat out illegal. Nobody encouraged Madoff, or the collusive screwing of muni bond issuers, or Countrywide's massive fraud. That shit, & a ton more that will or won't come out, is just plain crime, & needs to be punished at both the individual & institutional levels.

The stuff that was encouraged - like Lehmsn pretending it was solvent, or BOA hiding Merrills losses from its shareholders, was done with the collusion of Geithner & Bernanke. Again, very specific names, and people who very much need to be punished.

The public in general as suckers? They've been punished enough. Time to let us watch some real criminals getting roasted.

& you & Megan will just have to suck.on.this.

NutellaonToast said...

I don't wanna suck on anything man. No fuckin' fair.