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Money makes money, if we let them charge interest. So do banks need to gamble or just lend money out At a much higher rate than they pay to get more? That difference in rates is what banks once were about. What rate do they pay on a savings account? An amazingly stingy two points or less. How much do they charge on an outstanding balance? Fifteen, maybe thirty to folks under duress. So who loses their homes? Not the banking elite. They're now paid a fortune in order to bet On whether the Who is you or your neighbor Who's been done in by sub-prime mortgage debt. If enough homes are lost, some banks may go under Unless they're bailed out by a taxpayer fund, So they can resume their usurious ways Making more millions while those foreclosed are shunned. There once was a time when such rates were illegal Until politicians were bought by big banks. Now when Blankfein says 'freeze', all the whores in both parties, Led by Mitch and 'Big Orange', don't dare to break ranks. That's what has happened to poor little Ireland. Banks gambled and lost, but then were bailed out By political cronies with taxpayer money. Goldman Sachs protégées or alums? Without a doubt.
Bob Carlson 11/27/10 To 'Still the Best Congress Money Can Buy' To 'Eating the Irish' To 'The Give and Take of Liar Loans' To 'Winning the Class War' To 'What Good Is Wall Street?' To 'Goldman's Blankfein' To 'Mitch Just-Say-No' To 'Hell No John Boehner' To 'Goldman Sachs' To 'Politicians for Sale' |