Friday, May 6, 2011

Let Them Eat Jamie

JPMChase CEO Jamie Dimon stated that: “Giving debt relief to people that really need it, that’s what foreclosure is.”
As he explained:

“( Homeowners ) are probably better off going somewhere else, because they get relieved almost 100% of the debt through foreclosure.”

Foreclosure as debt relief? Now that's a new spin on "Let them eat cake."

Better off going somewhere else? Where Jamie?  the street? their car?

Living under a bridge?

Let them eat Jamie

Pity the poor lenders they are just trying to do us all a favor.

What if home owners just said screw it, "Let them eat my mortgage."

By keeping up the property taxes and staying involved in the community a homeowner can drag out the foreclosure process for eternity, and if a critical mass of people did the same thing, the banks would come crashing down.    

"Let the banks eat dirt."

If you really think about the big picture, it is impossible for an American citizen to owe the banks anything.

We the people own them; they are public property since we involuntarily purchased them via the Bailout. Since the banks serve no purpose and are purely destructive, the best thing we can do with this dangerous and putrid parasite is destroy it.

If in the process we can get back some of what we paid ( what was stolen ), we should do so. So consider any renunciation of bank debt as a citizen taking back his particular portion of what was stolen from all citizens.

Never underestimate the power of narcissism, as in Jamie Dimon's case.. the need to feel good and morally correct in what one is doing, no matter how self-serving or reprehensible the action is.

How about debt relief for banks? Audit them using mark to market valuations, reassess both their derivative exposures and liabilities due to housing fraud, and then put them through bankruptcy.

Oh, and apply The RICO (racketeering) Act. to corporate officers like Dimon, and criminal prosecutions of both corporate officers and the corporations themselves.

Honest, Jamie,

you will feel much better after they let you out in 20 or 30 years and maybe, just maybe, you might come

out a better man.

Scratch that last part.


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