Rant

You can be my partner in crime.

I’ve been busy. But not too busy for this:

[youtube S27yitK32ds]

7 Comments

  • OldTitleGuy

    Interesting that she should mention the Glass-Steagall act, repealed in 1980 or so. The Gramm-Leach-Blily stuff allowed banks to get into the securitization business. Seems like a bad idea now. This comment is sorta off the top of my head and might be wrong. I’m sure somebody will correct me.
    I don’t quite follow the part about returns from refinancing going into a “lockbox” for social security. What does that mean?

  • dolphyngyrl

    I’m thinking the social security thing was so that the “hard working American people” have a secure social security system. Because it makes perfect sense to use one for the other. If you’re in congress.

    But I could be wrong.

  • OldTitleGuy

    That sounds like smoke and mirrors. The excess SS money goes into T-Bills, essentially the Gummint borrowing money from the SS system which will eventually have to be repaid. By the Gummint. Us. Does it make any difference to stick the money generated here into the SS system and then borrow it back out? Or is she proposing that the funds are left in the SS system to make no interest at all? Even from ourselves?
    If you aren’t a “hard working” American — say you’re just a lazy slug with a soft job paying into the social security system — do you get no benefit from this when you get even more lazy and retire?

  • dolphyngyrl

    Um… OTG… When, exactly, does Gummint logic make sense?

    Also… If that hardworking/lazy slug thing is the actual case, then us Gummint employees are SCREWED.

    Unrelated: WineDog, are you leaving it that way just to fuck with me?

  • lidarose

    Re: WAMU…from a First VP

    WAMU bailed and the US Gov. took them over and then turned around and sold WAMU for a “song” to JP/Chase. Bottom Line: Many folks who have worked their asses off for WAMU and had a contract which involved severance pay in the case of a sellout to another entity are shit out of luck. In other words…the employees are going to get royally screwed!

    Also, over the past few weeks, the employees have received countless emails and memos from management stating that WAMU was sound and not to worry…

    On a different subject…I am getting the drift that you will be turning 50..am I correct? Well, Happy Birthday!!!

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