Alternative title: The finance industry, mortgage-backed securities, bank bailouts, risk-weighted assets, and equity ratios: much more than you wanted to know.

wasoxygen kleinbl00

kleinbl00:

Fuck this author.

It isn't going to take two made-up parables of snark in order to explain the hatred of the financial industry: whenever a human loses to a number, the humans are going to blame whoever came up with the numbers. It's that simple. That's Labor V. Capital in a nutshell, going back to Sargon of Akkad (the Akkadian emperor, not the Youtube neckbeard): People who work hard get mad when they lose out to people who don't. The entire concept of royalty and hereditary rule exists to make people feel kinda-sorta okay about some people getting ahead without working hard.

People got mad about bailouts because nobody who fucked up faced any penalties, while people who didn't fuck up took it in the ass. The fact that not making your mortgage payment gets you out on the street while destroying a hundred-year-old Wall Street firm doesn't even endanger your stock options pissed a lot of people off, and rightly so. And you can wave hands and say "bailouts" all you want but fuckin' hell, man, TARP was $475b and the American financial industry got 16.9 trillion dollars. Eight million people lost their homes in the great recession. Divide that 16.9 trillion by every displaced homeowner and those displaced homeowners have over two million dollars each. How you like that financial stimulus? Pour two million dollars per homeowner into the rust belt and see if maybe it snaps back. Pour two million dollars per homeowner into the Appalachians and see if something other than coal springs up. But no. We poured two million dollars per homeowner on the only people who would look with disdain on a two million dollar home and here's some fucktard on the internet using memes to argue their hair is a bird.

Throw some graphs on there, throw some .gifs, throw some memes. That way they know you aren't some pump'n'dumper on SeekingAlpha. That way they know you aren't just another anonymous Tyler Durden on ZeroHedge. Talk in circles a whole bunch and see what comes back. But it will still come down to the fact that people hate the finance industry because it's fundamentally fucking unfair and fuckin' Capuchin Monkeys understand "fundamentally fucking unfair" without the need to link to knowyourmeme.

Fuck this author.


posted 1956 days ago