Thursday, February 19, 2009

There's a storm brewing.

Look, I'll be upfront and say I don't know dick about the economy. I only sort of understand the broad strokes of what's going on. I expect I could spend years studying it and still not get a grasp on it. It's a big convoluted beast. But when I see clips like this I can't help but think there's a war coming. Not 'war', war, but like the 'culture wars'. There is a class war coming. If you want to call it that. I don't know from an economic point of view if the housing plan will help or not. But on just a pure visual and visceral level this is outrageous and I think most people who see it will get that. To have a rich man on a trading floor going off about how we're going to 'subsidize the loser's mortgages' and to have them cheering it on is freakin' outrageous. On a base level this guy is arguing that trying to help 9 million individuals and families stay in their homes is wrong. And as Obama said yesterday, this plan is going to help those that acted responsibly. That it will not help dishonest lenders or people that bought homes they knew they'd never be able to afford anyways. But this guy thinks that those that did play by the rules should all be thrown out on the street. That's crazy to me. Even after banks have gotten billions of dollars in bailouts. So we're supposed to subsidize loser bankers but not loser home owners? And I'm sure this guy doesn't work for a bank that's getting a bailout and has no connection to any of that. But just the image is of all of them cheering him on baffles me. 



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