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The big bad banks were all soo big that to let them fail would be akin to dividing by zero and would send the entire world descending into financial Chaos and Ruin.
They were not too proud to beg when it came to remaining solvent after they shit the bed, but once that whole bailout thing starts interfering with their potential IPO, the losing arm of Ally financial, GMAC ResCap, is told to start exploring a strategic bankruptcy filing.
Wanna know what this means, class? It means that you, me and every other regular dumb tax paying schmuck is about to get royally fucked on that bill by these fuckers.
It also means that their parent company, ALLY FINANCIAL will come out profitable as hell and smelling like a rose, leaving ResCap to twist in the wind under the microscope for multiple lawsuits across the country, investigations by all 50 state Attorneys General and a veritable MOUNTAIN of bad mortgage debt while they're still yanking the carpet out from under people who can't pay their mortgages all because of the toxic real estate market that these same fuckers caused in the first place. Ain't that a fun lesson in corporate responsibility, kids? The government is trillions upon trillions in debt and these fuckers are looking at every angle they can just to get out of paying back their fair share of money they borrowed to keep them afloat long enough to fuck us with out even the courtesy to offer us a reacharound.
Wait, hang on a minute... WTF?
Were the roles reversed, say on the part of a mortgagor, wouldn't this be when they come out of the corner swinging with their robo-foreclosure hammer to try and foreclose on anything and everything in sight just like the Bannity banban hammer swung by Eddie over on JK-F whenever someone mentions a vendor who doesn't suck his dick? IBTM? Well why the hell isn't the government parrying this? Why aren't they blocking them from foreclosure and telling them "you shit the bed and we're fresh out of new sheets. Lay in it, STFU and pay me what you owe before I break one of your fucking kneecaps, motherfucker"
According to the article, Ally financial still has to repay $17.2 billion in tax payer money to the Treasury by way of an IPO that would take the company public. Let's just take a look at that what that number actually looks like.
issed:$17,200,000,000.00issed:
That is YOUR money. That is MY money. That is from revenues collected by the government FROM us, the people and sent to THESE, the douchenozzles all so they could stay solvent because they were bogged down in a shitpuddle that they filled to the brim in the first place! And they did all this while continuing to take homes back from people across the country in what has been proven to be, at the minimum, unethical and potentially even illegal.
So how's this for the ironic twist of a kick in the dick? You pay your taxes like every other good citizen the entire you're employed, right? Yeah, me too. But when you lose your job because multiple industries acroos the board in the economy all took a massive shit all at the same time, you file for those 99 weeks of Obamabucks coming from your unemployment insurance that you've faithfully been paying into and you try to make it work with what you've got somehow, but it just ain't happening. You fall a few months behind on the mortgage that just so happens to be the very same mortgage company that YOUR tax dollars just bailed out. Surely, they'll see the insanity of foreclosing on the same guy who just pulled their bacon out of the fire right? ...uh, RIGHT?
Nope, not only do they ignore that whole pesky little "you must make an effort to avoid foreclosure" business coming from the federal government and they ramrod your foreclosure through the system without even LOOKING at it like they're processing a piece of steak for one of their backyard BBQs. Nothin but meat. No emotion and no remorse.
Now, if they put the ResCap unit into Bankruptcy, which is beginning to look more and more likely, you can bet your aunt Sally's sweet round ass they won't pay back every penny of that debt. No, it will be more like a minimized fraction of it in the end, since they would be protected under the corporate BK laws. Way to win one for corporate responsibility you soulless jerkoffs. Even after they get bailed out, they can STILL manage to find a new way to fuck the guy on the bottom; namely, ME.
THIS, my fellow Jeepers, is what I see as being wrong in our country. THIS is why, at my very core, I have just a sliver of hope for those occupy nitwits. THIS is why I want to sow dissent and send anyone and EVERYONE who is jobless to live on the National Mall so that the morons who have somehow not only been elected but RE-ELECTED will get the message that there is about to be blood in the streets. There's about to be CEO's hanging from lamp posts and private jets being burned on the tarmac. There's not a fucking OUNCE of corporate responsibility anymore. It's all about how they can dump the bad debts that THEY produced in the first place (let's just go ahead and skim past the fact that we're completely ruining quite literally millions of lives for those same people who had kept us solvent these past 4 tumultuous years in the process, shall we? yeah, let's skip over the icky parts) and get this company to IPO so we can start handing out those mult-imillion dollar bonuses to our execs again. After all, we have those houses in the Caribbean to pay off and you know how picky those banks can get when you stop paying, ho ho ho ....issed:
issed:
I have a strong urge to drop kick a kitten right now.
Link to story:
http://www.bloomberg.com/news/2011-...ive-buffett-role-in-rescap-restructuring.html
They were not too proud to beg when it came to remaining solvent after they shit the bed, but once that whole bailout thing starts interfering with their potential IPO, the losing arm of Ally financial, GMAC ResCap, is told to start exploring a strategic bankruptcy filing.
Wanna know what this means, class? It means that you, me and every other regular dumb tax paying schmuck is about to get royally fucked on that bill by these fuckers.
It also means that their parent company, ALLY FINANCIAL will come out profitable as hell and smelling like a rose, leaving ResCap to twist in the wind under the microscope for multiple lawsuits across the country, investigations by all 50 state Attorneys General and a veritable MOUNTAIN of bad mortgage debt while they're still yanking the carpet out from under people who can't pay their mortgages all because of the toxic real estate market that these same fuckers caused in the first place. Ain't that a fun lesson in corporate responsibility, kids? The government is trillions upon trillions in debt and these fuckers are looking at every angle they can just to get out of paying back their fair share of money they borrowed to keep them afloat long enough to fuck us with out even the courtesy to offer us a reacharound.
Wait, hang on a minute... WTF?
Were the roles reversed, say on the part of a mortgagor, wouldn't this be when they come out of the corner swinging with their robo-foreclosure hammer to try and foreclose on anything and everything in sight just like the Bannity banban hammer swung by Eddie over on JK-F whenever someone mentions a vendor who doesn't suck his dick? IBTM? Well why the hell isn't the government parrying this? Why aren't they blocking them from foreclosure and telling them "you shit the bed and we're fresh out of new sheets. Lay in it, STFU and pay me what you owe before I break one of your fucking kneecaps, motherfucker"
According to the article, Ally financial still has to repay $17.2 billion in tax payer money to the Treasury by way of an IPO that would take the company public. Let's just take a look at that what that number actually looks like.
issed:$17,200,000,000.00issed:That is YOUR money. That is MY money. That is from revenues collected by the government FROM us, the people and sent to THESE, the douchenozzles all so they could stay solvent because they were bogged down in a shitpuddle that they filled to the brim in the first place! And they did all this while continuing to take homes back from people across the country in what has been proven to be, at the minimum, unethical and potentially even illegal.
So how's this for the ironic twist of a kick in the dick? You pay your taxes like every other good citizen the entire you're employed, right? Yeah, me too. But when you lose your job because multiple industries acroos the board in the economy all took a massive shit all at the same time, you file for those 99 weeks of Obamabucks coming from your unemployment insurance that you've faithfully been paying into and you try to make it work with what you've got somehow, but it just ain't happening. You fall a few months behind on the mortgage that just so happens to be the very same mortgage company that YOUR tax dollars just bailed out. Surely, they'll see the insanity of foreclosing on the same guy who just pulled their bacon out of the fire right? ...uh, RIGHT?
Nope, not only do they ignore that whole pesky little "you must make an effort to avoid foreclosure" business coming from the federal government and they ramrod your foreclosure through the system without even LOOKING at it like they're processing a piece of steak for one of their backyard BBQs. Nothin but meat. No emotion and no remorse.
Now, if they put the ResCap unit into Bankruptcy, which is beginning to look more and more likely, you can bet your aunt Sally's sweet round ass they won't pay back every penny of that debt. No, it will be more like a minimized fraction of it in the end, since they would be protected under the corporate BK laws. Way to win one for corporate responsibility you soulless jerkoffs. Even after they get bailed out, they can STILL manage to find a new way to fuck the guy on the bottom; namely, ME.
THIS, my fellow Jeepers, is what I see as being wrong in our country. THIS is why, at my very core, I have just a sliver of hope for those occupy nitwits. THIS is why I want to sow dissent and send anyone and EVERYONE who is jobless to live on the National Mall so that the morons who have somehow not only been elected but RE-ELECTED will get the message that there is about to be blood in the streets. There's about to be CEO's hanging from lamp posts and private jets being burned on the tarmac. There's not a fucking OUNCE of corporate responsibility anymore. It's all about how they can dump the bad debts that THEY produced in the first place (let's just go ahead and skim past the fact that we're completely ruining quite literally millions of lives for those same people who had kept us solvent these past 4 tumultuous years in the process, shall we? yeah, let's skip over the icky parts) and get this company to IPO so we can start handing out those mult-imillion dollar bonuses to our execs again. After all, we have those houses in the Caribbean to pay off and you know how picky those banks can get when you stop paying, ho ho ho ....
issed:issed:I have a strong urge to drop kick a kitten right now.
Link to story:
http://www.bloomberg.com/news/2011-...ive-buffett-role-in-rescap-restructuring.html
