Open Thread

The subprime crisis in a nutshell. Read it while trying to get this out of your head:

Suckers.






34 replies
  1. 1
    Jake says:

    Fucking. Brilliant.

  2. 2
  3. 3
    Dennis - SGMM says:

    Doh! On the other hand, if it’s a Battle of the Earworms, then have at you!

  4. 4
    Punchy says:

    Proud day to be a Hawkeye, I think

    What possess a Uni to simultaneously blow $40K to pay a criminal and piss off a majority of students and faculty all in one shot? I understand diversity of opinion, openness ot thought, yada yada, but this guy’s just pushing pure bullshit.

  5. 5
    Greg says:

    Thank You. I’d forgotten about Gordon Lightfoot. We used to listen to him constantly … so many years ago. I’m off to iTunes to find some of the old favorites.

  6. 6
    Xenos says:

    What the cartoon fails to show is how much money the ‘Really Smart Guys’ made in fees while selling all the CDOs to the greater fools out there (a/k/a our fiduciaries). For extra bonus outrage, consider that Goldman Sachs had their internal fund used for investing partners’ money take a four billion dollar hedge against the mortgage market, while continuing to sell the tainted CDOs to their investing clients.

    Oh, and guess what? Largely based on that successful hedge position, the two managing partners for Goldman Sachs were just given an annual bonus of 67.5 million dollars. Each.

    We are doing a disservice to the robber barons when we compare our corporate and financial industry leaders to them.

  7. 7
    Zifnab says:

    For extra bonus outrage, consider that Goldman Sachs had their internal fund used for investing partners’ money take a four billion dollar hedge against the mortgage market, while continuing to sell the tainted CDOs to their investing clients.

    Oh, and guess what? Largely based on that successful hedge position, the two managing partners for Goldman Sachs were just given an annual bonus of 67.5 million dollars. Each.

    To be fair, you can compare that to Merrill Lynch where brokers couldn’t buy up these mortgages fast enough. And look at their multi-billion dollar write-down.

    Then compare that to the Merrill Lynch CEO who still dragged in tens of millions in bonuses.

    I’m not saying Goldman Sachs didn’t play some sleazy ball, but I am saying that more than one “smart guy” got burned on this deal and more than one manager dragged in boatloads of cash either way.

  8. 8
    qkslvrwolf says:

    I’m blocked, can someone post this somewhere the air force doesn’t hate?

  9. 9
    Dennis - SGMM says:

    What possess a Uni to simultaneously blow $40K to pay a criminal and piss off a majority of students and faculty all in one shot?

    Attila the Hun was already booked? Charles Manson couldn’t get a furlough? OJ Simpson requires a teleprompter?

  10. 10
    AkaDad says:

    I think Hillary should write a new book.

    It Takes Experience To Disenfranchise A Village.

  11. 11
    Dennis - SGMM says:

    Oh, and guess what? Largely based on that successful hedge position, the two managing partners for Goldman Sachs were just given an annual bonus of 67.5 million dollars. Each.

    If John Dillinger and Willie Sutton were alive today they’d both be hedge fund managers.

  12. 12
    Brady Bonk says:

    And now, I present, the EXACT OPPOSITE of “Wreck of the Edmund Fitzgerald.”

    http://www.youtube.com/watch?v=h1yUJx1zGeI

  13. 13
    PeterJ says:

    Bill Clinton on Rush Limbaugh Show Day of TX Primary.

    Is there anything they won’t do to get elected?

  14. 14
    Shygetz says:

    I missed it the first time it was linked on here. That was brilliant!

  15. 15
  16. 16
    Jake says:

    The Repubs could use a little good news.

  17. 17
    Dennis - SGMM says:

    Spitzer involved in prostitution ring.

    Next thing you know they’ll find out that Elliot Ness was a viper.

  18. 18
    AkaDad says:

    Spitzer involved in prostitution ring.

    I didn’t know Spitzer had that much in common with Republicans.

  19. 19
    srv says:

    Bill Clinton on Rush Limbaugh Show Day of TX Primary.

    Is there anything they won’t do to get elected?

    You Obamabots keep saying you want someone who can reach across the isle and work with the opposition, but when BillaryMcWalMart do it, not so much.

  20. 20
    Punchy says:

    Spitzer involved in prostitution ring.

    Initially I thought this meant he was part of a sting operation to bust it. Actually, it means he was stinging some operated-on busts.

    Spitzer or swallow? Too early? Bueller?

  21. 21
    Splitting Image says:

    “You Obamabots keep saying you want someone who can reach across the isle and work with the opposition, but when BillaryMcWalMart do it, not so much”

    The Democrats are full of people who can reach across the aisle and work with the opposition. What we want is a carrier who can infect the Republicans with the ability.

    Hopefully a carrier who is immune to it himself.

  22. 22
    Xenos says:

    ‘Katrina and the Waves’?

    Now THAT is a tasteless name for a pop group!

  23. 23
    Martin says:

    I didn’t know Spitzer had that much in common with Republicans.

    He doesn’t. Republicans have been trending toward male hookers. But if he’s copping to the charge, he’s gotta resign. Damn shame too. I liked his willingness to contest corporate power.

  24. 24

    I went to college at Michigan Technological University in Houghton, MI on the Keewenaw Peninsula on Lake Superior. An awesome body of water with dangerous beauty. Unlike the rest of the Great Lakes it is a volcanic construct, over 1,000 feet deep. In the winter the ice heaving sounds like artillery fire from miles away. On any given day it has the capacity to astonish, from glittering summer calm to raging winter storms. At 45F year around swimming is questionable.

    Thanks for the clip, I haven’t been there for quite a few years.

  25. 25
    jcricket says:

    Then compare that to the Merrill Lynch CEO who still dragged in tens of millions in bonuses.

    Yeah – I call it the “no downside” club. Unless you view only earning a $10m golden parachute a “downside” because they could have earned $25m if they had stayed.

    The rest of us, up-to-and-including the so-called “upper middle class” are seeing our real incomes decline every year (eaten up by real inflation + low raises) and are always worried about the next layoff.

    But the “no downside” club continues to rake it in, in good times and bad. A friend of mine and I discussed how, even if you’re not a charter member of this club, you still probably have enough in reserves to ride out any downturn, and perhaps even re-invest when things are down. The rest of us are using our savings to survive during these downturns, not viewing it as a buying opportunity or as some great benefit because our non-existent hedge strategy played out.

    Something is just wrong here.

  26. 26
    jcricket says:

    Spitzer or swallow? Too early? Bueller?

    I was waiting for someone to say that. Funny!

  27. 27
    Jake says:

    Punchy quips:

    Initially I thought this meant he was part of a sting operation to bust it. Actually, it means he was stinging some operated-on busts.

    Spitzer or swallow?

    Yea verily, this is a .zip file of teh funny. The co-workers are reaching for the nets again …

  28. 28
    pharniel says:

    oddly enough i’ve been to the shipwreck museum. nifty place.

    first time i heard of the edmund fitz i was looking over the place where they think it went down. if that isn’t enoguh to weird out an 7 year old i don’t know what is.

  29. 29
    Jake says:

    Anyone for some Kristol Method?

    Perhaps the most obvious way McCain could upend the normal dynamics of this year’s election would be a bold vice presidential choice. He could pick a hawkish and principled Democrat like Joe Lieberman. He could reach beyond the usual bevy of elected officials by tapping either David Petraeus or Raymond Odierno — the two generals who together, in an amazing demonstration of leadership and competence, turned the war in Iraq around last year. He could persuade the most impressive conservative in American public life, Clarence Thomas, to join the ticket.

    1. JoLie isn’t a Democrat, he’s an Independent with strong lap-dog tendencies.
    2. Impressive? Clarence Thomas?

  30. 30
    over it says:

    Hey…I like that song!
    It’s from my childhood (well, I don’t know when it came out…but my parents have the album).
    Pretty weak shot in an earworm war (in my opinion). ;)

  31. 31
    over it says:

    Now….THIS is an earworm! ;)

  32. 32
  33. 33
    sal says:

    My dad had been on the Edmund Fitzgerald. Not when it went down, but could’ve been. Worked on the freighters most all his life. As kids, we got to take trips on them during summers. I remember when the Fitzgerald sank very well.
    On the other hand, no one calls Superior ‘Gitchee Gummee’ since Longfellow.

  34. 34
    montysano says:

    You Obamabots keep saying you want someone who can reach across the isle and work with the opposition, but when BillaryMcWalMart do it, not so much.

    Going on Limbaugh is not “reaching across the aisle”, it’s wallowing in the gutter. Limbaugh and his ilk, who will happily poison the well of public discourse in exchange for a paycheck, are a fucking boil on America’s ass. Blehh….. Willie……. how could you?

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