Sodomy Financing

Or, when showering with Democrats don't expect them to pay for the KY.....

We’re adding $475,000 per minute to the National Debt

If we borrowed a million dollars per day from the time Jesus was born we still wouldn't have borrowed a trillion dollars

Some banks are "too big to save." Many banks may be larger than the ability of their government to rescue them: Iceland, Greece, Spain, Italy, Belgium, Switzerland and, some suggest, even the UK. In our case, BofA and Citi???

We now know that converting a debt into a security doesn't reduce systemic risk, it actually increases it. Obama acts as if converting mortgages into securities doesn't exist. The formulas for doing so are "secret" (proprietary) and of such a delicate nature all details are locked away in an encrypted computer program that nobody can enter. These "secret" trading strategies are called "black boxes." We now know that "black box" types of strategies lead to unpriceable uncertainty rather than priceable risk. Our worst problem right now.

Until the securitized credit card debts come due.

Yes, folks the genius class has also created a security out of sky high interest credit card debt, all of it unsecured, which the Obama government will have to guarantee in some form or another, perhaps by loaning more money (on a credit card) to the same deadbeats who can't pay it back now.

Obama housing solution: 4-5 million people who will be able to refinance at reduced (TAXPAYER SUBSIDIZED) mortgage rates through Fannie Mae, or Freddie Mac. For the 3-4 million people who are current on their mortgage payments, but who may be "at risk" get another handout. The "may be" part will be defined by some Democrat local as part of a political pay off. The banks will be instructed to write down these mortgage payments to 38% debt to income levels, then the fantastic government (READ: THE TAXPAYER) will pay for reducing the debtor's payment down to a 31% debt to income ratio. In other words, several new classes of welfare recipients will be created. Just what Welfare State Democrats crave in order to stay in power.

It gets even more touchy feelie. The U.S. Treasury (READ: THE TAXPAYER) will share in the cost of mortgage writedowns, meaning all the pesky paperwork and salaries for bankers. It gets better: both bad banks, and bad actors, will be rewarded with (get this)… "Success Fees!" Running up huge unpayable debt, the type of debt that is endorsed by the New York Times and the Harvard Crimson, is a "success" under this wonderful plan. And touchdowns will be declared failures.

But Bad banks aren't forgotton. They will be rewarded with welfare too. In addition to being paid $1,000 for each loan they re-write, they will be rewarded with $1,000 cash bonuses for each at risk loan they keep from going bad. AND bad borrowers will also be rewarded with a $1,000 "success fee" (paid every year for five years) for keeping current on their newly "TAXPAYER SUBSIDIZED" lowered mortgage payments!

And the U.S. Treasury (READ: THE TAXPAYER) will DOUBLE the guarantee to Fannie & Freddie to $400 Billion from $200 Billion.

For the rest of us, we are told to bend over while Obama hands us a tube of KY. But not to worry, after a few years of being sodomized it gets to feel so good that not only will we insist on getting butt fucked every few months as an entitlement, but we will insist on being done without the KY.

I can't help but think that if only the Republicans had won none of this would be happening, but all things being equal (or else) I'm glad I voted for this motherfucker. He has the brains to solve everything.

See Slider on the Black for more.......
Then reader Scot emailed me this terrific link regarding deficit spending.....