America's Back (and it's) Black!!!

Now that the Mac is not back, is it better to buy PC or Google? Whatever the case may be, I am so happy that the choice is still an American one. I always had this image of Obama being a 007 in a 747 flying America's best hopes and dreams all over the world. The guy's very focused and down to earth and having lived abroad in Indonesia and with roots and family still living in Kenya let's hope he will make a great President not just for America but for everyone around the world. He showed great respect for McCain and was very sober in his victory speech. I think America did a great hire in this election

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Make money creating the crisis. Make money solving it!

Here's the skinny. The guy gives tons of loans to people who can't afford them and sets the stage for the sub-prime crisis. The crisis erupts. He buys the loans back from the government ridiculously cheaper than the government bought them from the banks using taxpayers money. As a result he can afford to lower the interest homeowners pay on those loans and still make a 20% profit from them. Desperate to keep their houses, homeowners will gladly say thank you to him for helping them keep their houses.

And I want to ask a very simple question. Why is the government selling the loans to him? Why can't the government hire Him or other people like him to do the job of lowering the interest rate on those loans itself? Why let Him do the job via PennyMac and let Him keep the 20% profit? Why not have the government do the job and return the 20% profit to taxpayers whose money it used to buy the loans in the first place?

Is our government stupid, incapable or what? Or is the former No2 of Countrywide Financial that brilliant?

I have to say, just by looking at the name of his company PennyMac, he is a brilliant shyster. Penny for thriftiness and Mac for creative! Son-of-a...spiv :((

Check the full story here

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