Terms and Conditions Apply

   Posted by: chris   in Fish Talk

I’m 3/4 ways through “Girl Interrupted” and a reality is starting to set in to my denseness that the real asylum is located outside the walls of  loony bin as Susanna Kaysen describes McLean Hospital in Belmont MA. 

I mean how can so many people behave like brain dead morons on life support and then describe themselves as normal. Is it normal to buy a 3G phone and expect it to work as described in AT&T’s ads, well no not if you listened to the last line “3G not available in all areas” 

Is it normal to expect a $55 dollar charge on a $4 overdraft for one week on a Citizen Bank checking account? It’s not like Citizen Bank is a bastion of morality and fiscal fortitude. Their parent company Bank of Scotland has left a footprint of destruction in their wake in every market they are/were involved in. Ah! but, don’t you just love the phrase “ah! but”,  it means that the opposite to reality applies. 

So, ah! but, in the case of the venerable banking industry implies that in the minds of the idiots who administer our nations affairs that a little blimp here or there is no big deal because we have “Tarp” and we have “Nama” and God knows what in Iceland to calm the raging seas of the financial storm churned up by there financial wizards in their alchemic quest to make a financial killing. 

Don’t you just hate it when you listen to this great offer on sports radio and the last line is “some restrictions apply”. That means that if you have not been a good corporate clone then don’t bother asking. 

You do know that the credit reporting agencies are a threat. Mess up and your privileges will be shut down. It’s like in the mental hospital when you act out you lose your privileges. I wonder does Donald Trump or George Bush have a credit report, or are they only for the little people, to keep them in line like cattle walking nervously to the knife. 

In Ireland, mother Ireland soon to be renamed Nama Land they used to say terms and conditions apply which mean it’s a lie. 

Nama is Ireland’s version of Fannie Mae; it is a dump for so called toxic assets. Nama is threatening to destroy the fabric of society in cash poor Ireland, a country that as little as 25 years ago was described as a third world country. It might be that again. 

What exactly are toxic assets? Well when a bank is too big to fail it’s non performing assets (loans) are taken over by the state and paid for in cash for the total outstanding amount. The bank is fully compensated for its stupidity and for the mess it made of its business and the economy. The loss between the present value of the toxic asset and the outstanding loan amount is paid for by the plebs who work for a living. 

Recently a piece of land in Athlone which is a borderline nowhere in the center of nowhere which is what Ireland really is on the financial world stage was acquired by Nama for the outstanding mortgage balance. This land had a pre crash value of 31 million Euro and a present day value of 600,000 Euro. This represents a loss of over 30 million Euro for Nama which is code for the downtrodden people of Ireland. 

Makes you wonder though doesn’t it.  Is it possible that the term “terms and conditions apply” should apply to banks that where crazy enough to lend 31 million on a piece of land that was over 5,000% overvalued. We are not talking 10% or 20% over valued, no 5,000%, read my lips 5K% overvalued. 

The question that really needs to be asked when too big to fail is being bandied about like confetti is: Are the people of Ireland or America too big to fail or is it like Leona Hensley liked to believe, that the little people’s role in everyday life is as a resource to wealth. 

The everyday people are the system, they are the economy but the trouble is that the people who run the economy are not part of it. They are like a farmer administering a herd of cattle. If the herd gets foot and mouth and has to be put down the farmer isn’t also euthanized. In most cases the people who are the economy like the cattle suffer the brunt of their masters incompetence while the master is compensated for the losses he/she caused and the rich folk live happily ever after. Some fairy tale life turns out to be.

So the next time you feel like calling someone insane look at yourself politely lining up to pay homage at the gates of hell, like a steer staring down a knife and obediently doing you duty to ensure that your master has a full plate. 

Insanity my ass, society is the asylum.

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This entry was posted on Monday, March 8th, 2010 at 2:47 pm and is filed under Fish Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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