They have been, and always will be, with us:


Supercalifragilisticexpialidocious! Too bad the video didn’t continue for another couple of minutes to show how quickly the depositors panicked and tried to withdraw their money from the bank at the first hint of a problem. It’s a pretty damning picture of just how unstable the financial system really is. Everything simply happens much faster now with computerized trading.

I’d never paid attention to the lyrics (when I was 9) – “think of the foreclosures!” sums up a lot of what’s wrong today.

As a wealthy straight white Republican I have no problem with any of this.

Only recently did I begin to understand why we care about the bond market. It’s because the Feds need to borrow to pay operational expenses, not wanting to just print money.

@blogenfreude: Harry Shearer did an hour-long interview today with the blogger behind Naked Capitalism, mostly about the foreclosure swindle. Very informative and worth a listen, once that particular Le Show gets posted online.

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