October 10, 2008
Holy crap, this is getting scary. The Dow Jones is down over 350 points to around 8,000 and oil is down $6. Market indices in Australia, Hong Kong, Japan, and Europe are all down between 7% and 20%. I don’t even want to THINK about how much money my 401(k) has lost this quarter. I wouldn’t be the least bit surprised to see a 40% drop.
I just want to say “Thank You†to the douchebags who sold NINA mortgages, created CDO’s, and took high leverage loans to destroy the global economy. You fucksticks. If it seems to good to be true, IT PROBABLY IS.
October 10th, 2008 at 12:36 pm
And all the people who took out no principal, 100% mortgages on properties they never even walked into because they were going to “flip that house”. All the people who can’t pay their mortgages should be foreclosed upon and all the banks who get stuck with a bunch of properties because they made stupid loans should go out of business. Let people suffer the consequences of their choices.