I don’t want financial armageddon either, but I sure as hell will not mourn when WS aholes are no longer getting 6 and 7 figure bonuses and then want the Fed to cut the interest rates. Screw them.
In case there is some confusion about where all this money has come from the past several years, I’d like anyone who read Chris’s post to go find a graph of M3 growth since 2000 and plot that against the rise in home prices in SoCal over the same periods. I suspect that you will find direct correlation.
I’ve lost money on my biotech long holdings in the past several weeks but I’ve made up for it by betting against the likes of CFC, Lend and AHM. Those companies need to be put out of existence because they were nothing but a scam to begin with. If you want to lay blame somewhere, why don’t you ask Angelo Mozillo about the >$500M worth of stock he has sold in the past year or so. Or how about Bob Toll?
Nobody is really cheering on the financial mess that has been made in the past 5 years. I’ve watched the value of not just my savings but my salary go down in the same period meanwhile I’m being called a fool because I could see that there was something seriously wrong with what happening.
Sorry Chris, but save your sanctimony for someone who gives a shit. I do not.
