Tom the Dancing Bug by Ruben Bolling for March 07, 2009
February 28, 2009
March 14, 2009
Transcript:
day of the zombie banks guy: is mr. walton available? secretary: arr... guy: um... thank you. hi, mr. walton. have you reviewed our mortgage application? walton: arr. woman: are you saying you can't give us credit? walton: arr! gerry walton guy: what th--? good lord! get back! this is a zombie bank! walton: arr... bonus! woman: zombie? guy: the bank's liabilities exceed its assets! it's the walking dead! thwak walton: arr! guy: don't you see? they can't be killed! walton: arr... bailout... guy: there's only one thing we can do! woman: what?! guy: buy them! woman: it's not so bad, but be sure to lock up your checkbook. zombies: bonus bailout. bonus.. and so, bank nationalization saved them! but... that night, horrible cries could be heard coming from a deroit office building... the end?
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This is a great, scary, funny strip.
I have a friend in the mortgage business and asked him what the hell was going on here. He said that basically banks were getting rich off of charging points. Investors loved it and were rewarding the banks for massive short term profits.
And now that everything’s falling apart, the government cleans up after the mess with our tax dollars…giving it to the same morons who got us into this mess. Except maybe they’re not morons after all.
Sigh…I like Obama, but he’s just treading water here. IMO we need to nationalize these failed businesses that are “too big to fail” and provide accountability, not throw money at them.