Archive for August 13th, 2009

Nation ready to be lied to!

August 13, 2009

Proclaims the inimitable Onion:

“I thought I wanted a new era of transparency and accountability, but honestly, I just can’t handle it,” Ohio resident Nathan Pletcher said. “All I ever hear about now is how my retirement has been pushed back 15 years and how I won’t be able to afford my daughter’s tuition when she grows up.”

“From now on, just tell me the bullshit I want to hear,” Pletcher added. “Tell me my savings are okay, everybody has a job, and we’re No. 1 again. Please, just lie to my face.”

The national call for decreased candor began last month, after the Department of Labor released another soul-crushing report that most Americans agreed “wasn’t helping anything” and “didn’t need to be so specific, at least.”

Mark Twain on banking problems

August 13, 2009

As Mark Twain once remarked, “If a man owes a bank a dollar and cannot pay, he has a problem. If he owes it a million and cannot pay, it has the problem.” If that happened today, the lender’s bank would probably sell some of that debt to another bank, which would buy it with money borrowed at 40 times its own capital. To Mark Twain’s admonition we may add this: If a bank owes another bank a billion and cannot pay, everyone has a problem.

From this excerpt at NPR. Take a look!