What the Market Will Bear (Bare)

[Boomer]

I recently re-upped my subscription to Business Week. I really like the style of writing in that magazine. There is nothing esoteric about it. But an article I read today could have held its own in a tabloid. Too bad it's true.

So anyway, today, I finally had a chance to read the November 24 issue. And, of course, the first article I read was the one titled "Sex, Lies, and Mortgage Deals." (Aw, c'mon, you know that would have been your first choice, too.)

I will warn you that this article is completely disgusting. And I wondered if it might even be a little racy to link on TOTV. But before I am banned for posting such links, please let me plead my case by saying this was in BUSINESS WEEK!!!!!! Yep. BUSINESS WEEK!!!!

So while I truly believe that there is enough blame in the mortgage meltdown to cover both political parties, I did not post this in political. This is not political. This one is about business. The oldest business in the world. (No, not farming.)

And besides all that, it goes into acts of fraud that are unspeakable. Shredders all around. White-Out everywhere. Cut and paste your way to millions. Vile. Evil. And now we all must pay.

So consider yourself warned before you read this. You may or may not be surprised. You may be completely horrified. But I guarantee, even if you have heard it all before, it will make your blood run cold. And it probably will make you furious. And now we all must pay. Except the ones who should pay. They never seem to have to pay.

Oh well, read it and weep.

http://www.businessweek.com/magazine/content/08_47/b4109070638235.htm?chan=magazine+channel_in+depth

Boomer

[Boomer]

I sure am up early this morning. I am so boring. And now, not only do I appear boring, I appear to be downright tacky. It looks like I am bumping my own thread. Oh well. I guess I am.

I have been paying attention to the economy for a very long time. And you know, lately, they keep talking about the late 70's, early 80's. Well, I remember those days and so do you. I had a 10% fixed rate mortgage that I had hunted down by spending what seemed like days with the telephone plastered to my ear while I asked lenders lots of questions.

And in the bank, there was a 17% CD. Even at the time, I knew that was not right. Inflation reigned supreme. But that CD was how we saved for Boomette's college tuition.

There was an article the other day, I think in the NYT, about how this crisis is going to affect kids trying to go to college. I have two grandchildren, Boomster, who is in college, and Boomlette, who will be soon. (As I have told you all before, I am a sweet, young thing. But I was a grandmothering prodigy. So very young when I started this grandma thing, you know.)

Back to that 80's comparison stuff... I just don't feel like this mess is a whole lot like those days. I don't think this is like anythiing we have ever seen before. I think they keep reaching for comparisons to make us feel better. Like we got through it before. And so we will get through it again. And we will. Eventually. (But I will never be as skinny as I was in those days of my 17% CD and my 10% fixed rate mortgage.)

So anyway, did I bump my own thread? I guess so. I did it in case you are interested in the link in the first post to the Business Week article and maybe you missed it. I guess I am inviting you to be irate with me though so be careful. You might not want to read it at all. It is a horror story.

To buffer it a little, I am linking you to the NPR radio show Marketplace Money. It's a little more pleasant. I have not done that for a couple of weeks. I am sitting here listening to it while I write this. And so in case you might like this radio show, too, here it is.

http://marketplace.publicradio.org/episodes/show_rundown.php?show_id=8

I just have to throw this economy stuff out here once in awhile. I can't help it.

Boring, tacky, irate Boomer in the Morning