DP = Dividends Panic…
Here’s why I am shitting briks after the JPMorgan Chase takeover of Washington Mutual…
I still owe JPMorgan Chase a grip from a defaulted credit card. These fucks shut me down back and April and garnished my entire grip. I had seven stacks in my account and several checks in the mail for big amounts. That garnishment put me in the worst effing hole in my life. Too bad I couldn’t have Congress erase my debts like they are doing for the screwups on Wall Street.
Now that I have my paycheck coming directly to Washington Mutual I better shut this account down and take my ass back to the check cashing spot on Junction Boulevard. In another few years there will only be one bank left in America. I bet its gonna be Chase too. They are so ruthless with their credit card interest fees. That is the heart of capitalism too. The idea is to straight up capitalize on motherfuckers. To kick niggas in the teeth when they are down on the ground.
This is why I don’t think we should be giving welfare to capitalists. Let those fags burn in the fiscal ether they created. Okay, I know nothing is that simple, but how the hell do the CEO’s of Lehman Brothers, Bear Stearns, AIG and all these other bankrupted corporation get to keep their scrilla but my ass gets garnished for some shit I bought back in 2002? Garnishing some of these fuckers golden parachutes will certainly allay some of the money that we taxpayers are laying out.
Say no to less regulation of our banking system.
Say hell no to executive packages paid for with our money.
Say HELL FUCKING NO to a suspension of the capital gains tax.
September 28th, 2008 at 12:10 am
so wait..they can garnish ur paycheck wages if u havent paid on a credit card from years back? (sweating bullets*)
September 28th, 2008 at 12:28 am
I haven’t had my paycheck garnished yet. Chase came and nabbed my checking account for the total amount.
September 28th, 2008 at 5:37 am
really though, these ceo dudes are gettin paid mini-mansion type dividends to straight run their shits into the ground. B.S.
September 28th, 2008 at 9:22 am
Did you peep how the former CEO of WAMU who served for a total of 17 days is going to get a severance package worth 18 million dollars?
If that wasn’t one of the best wins ever, I don’t know what is.
And you’re right about the banking bidness…pretty soon it’s going to be two superbanks fighting to the death…Chase and the awesomely named Bank of America. Those cats are snatching up other financial institutions at pesos on the dollar…or dollars on the peso…I don’t know which is worth more at this point.
These numbnuts want to say that they’re saving the economy by giving out a gajillion dollars to these private corporations who created this mess. Why not put that 700 billion dollars in the hands of citizens (who are actually the ones with the 700 billion…NOT the gubment)? You can’t tell me if you got a check in the mail you wouldn’t go spend that money or invest that money instantly? I’m sure that would provide a boost to the economy. But nope…these a-holes want to socialize corporate losses while continuing to privatizing corporate profits and letting these corporate criminals skate off into the sunset with these great severance packages. Until they start bailing out the little man nationwide, eff bailing out the rich who keep getting richer at the expense of the little man. This is captialism…let these cats crash and burn.
September 28th, 2008 at 10:40 am
Amen!
Corporate Welfare Whores should get nathan.
I will ammend it that attractive women Corporate Welfare Whores like Sarah PalInsane or CNBC’s Mario Bartiromo can get “nathan but penetration, unless it smells like sanitation” (c) BIG
ReThugs still are either ignorant, or willfully misleading, that demand drives the economy, not supply. This is why supply-side “Reganomics” is “voodoo economics” (c) George H W Bush Sr.
This is why the “drug war” on the illegal narcotics market will never end. Eradicating supply in South America doesn’t help, the “demand” still exists. Poor whites invented meth with Sudafed, with domestic supply. The demand from drug heads is the fundamental problem.
Since demand drives supply, the solution should involve stimulating demand.
There could be a program that stimulates demand for people with focked up mortgages
1 convert bullshyt ARM mortgages to fixed rate, 40 yr (instead of 30 yr) if need be
2 for folks that still can’t afford #1, allow them to rent their house for up to 2 years
these demand-based actions would lead to less mortgages failing, & hence the bullshyt mortgage backed securities Wall Street invented would be somewhat less bullshyt
3 Also, restore Glass-Steagall, which Phil Gramm/McSame/Bill Clinton stupidly killed in 1999. Specifically, force a company to choose 1 of the following business exclusively
-commercial bank
-investment bank
-insurance
4 If any company grows to over 20% of the US market in one of these 3 industries, invoke Sherman Antitrust, & divide that company into 4 companies with 5% each. This way, we don’t have this TO BIG TOO FAIL excuse of companies CANNOT happen. We also have more competition, & make the industry less oligopolistic, which Free Market Fundamentalist ReThugs theoretically should support, no?
How is it that my random amateur thoughts in 5 minutes pwns that of these douches like Henry Paulson? I took several university econ courses, but I’m not an econ PhD, or have any work experience in these industries.
BTW, actual experts like economist Dean Baker, or investor Warren Buffet, prolly have superior plans, but they stay getting ignored by the DC Corporate Welfare Whore Harem.
September 28th, 2008 at 10:42 am
these Corporate Welfare Whores gets nathan but REGULATION, their balance sheets smell like sanitation!
September 28th, 2008 at 6:41 pm
I don’t think people fully understand the danger of this situation so I will try to shed some light on the truth about this “bailout”
Banks that have friends in Washington are safe. They knew the whole banking system was going to crash ahead of time. They were betting on it. It is funny how Chase and Bank of America don’t even have the decency to pretend like they weren’t in on the scam from the beginning. There isn’t one decent bank left in America now. If you are reading this, pull your money out fast and stick to cash.
The bailout plan is a very obvious scheme. How can the Fed bailout banks with money printed out of thin air? Because America controls the dollar, the world’s reserve currency. Foreign countries are too dependent on the U.S. for it to collapse. Because of this the world economy is sliding back into the fucking feudal dark ages. All countries must pay tribute to the American Empire now like fucking Rome. But how long is this going to continue? How long can you force a man to work for peanuts while you cake out?
America’s infrastructure is crumbling. Roads and bridges are falling apart. Trains are all fucked up. Planes are constantly delayed or canceled. Natural disasters batter the fuck out of America because there isn’t any technology or money to respond efficiently.
What we are seeing isn’t capitalism or communism. We are seeing the return of feudalism on a global scale. The return of stupidity. I like to call it Globalism. Social mobility through hard work, ability, and creative innovation is now officially a wrap.
I am definitely scared. Everyone else takes this shit as some kind of joke, but these globalists are seriously trying to enslave or destroy us. I’m not even sure if there is a way to get out of this mess…….
September 28th, 2008 at 9:43 pm
D hopefully you get a pass on this one. I had a Best Buy card thru citibank in 98 when I was in college and totally screwed that over. Messed my credit up, but as years went by I’m assuming the bank changed hands so much that I got lost in the paperwork/database. Credit score is high and that ish ain’t even on it. True story. You’re right though, chase ain’t no joke. I got a credit card with them and BOA and the bills seem to come as soon as you get home from the store!
September 29th, 2008 at 10:44 am
Son try to pull the switch move. A few years back I had an account closed. So I start a new job and they won’t let me open another one. No one could tell me exactly why, Bank of America said maybe I owed my last bank money…doubtful since it was a book savings account. Anyway I opened a joint account with my moms at her bank…since she already had one there was no credit check. I put my name first and didn’t list hers on the checks. Few years later (I just never thought about it) I go back close that one and open another one in my name only.
Although, banks weren’t going bananas at the time so…..
September 29th, 2008 at 11:33 pm
all i gotta say is control your OWN economy..make sure the wifey is good..ur good..and if you have kids make sure they’re straight..and tune in for some reality fuckin tv on CSPAN and CNN and enjoy…