From the Boston Globe comes this pearl of wisdom from Kimberley Blanton: State urges curbs on subprime lenders.
The Patrick administration's chief housing official yesterday called for better regulation of mortgage brokers and the establishment of a $5 million fund to assist the escalating number of Massachusetts homeowners facing the loss of their homes through foreclosure.
Hello?!?
You have a problem in the trillions, and you're putting aside $5M to "help" homeowners facing foreclosure? What does that amount to?
0.0001 pennies a person!
Even if you gave it to the first lucky 1000, what does that amount to?
$5,000 a person!
And that keeps them going for an extra three months. What will they do for the next 29 years?
A quick back-of-the-envelope calculation shows that all of Buffett and Gates wealth combined couldn't even hold up the Manhattan market by more than a few thousand dollars.
These politicians are really fucking stoopid!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment