So it turns out that there are two kinds of vampire squids.
There’s the vampire squid that “is wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” and there’s the vampire squid that does the same thing while also taunting you with outright lies and insults.
Henry J. Paulson, former CEO of Goldman Sachs and former US Secretary of the Treasury, is the second kind of vampire squid. His Eminence stepped down from the clouds briefly to speak with the the NY Times’ Andrew Ross Sorkin about the real cause of our now double-dipping Great Recession. His take?
“Many of the Western democracies — including the U.S. — have a problem that voters want benefits they don’t want to pay for,” Mr. Paulson said.
If you are a homeowner in the United States, you may have noticed that we are in the midst of a vast, nationwide experiment being conducted to determine what things are actually worth. In the recent past, no one worried much about what their things were worth, if those things were buildings and/or properties.
What were they worth? More than they were worth yesterday.
Unfortunately, those days are gone. They’re as gone as all those 2007 episodes of “Flip This House” which A&E was forced to pull permanently from syndication after it was revealed that featured local developer Sam Leccima was a fraud. Sam didn’t own those houses he claimed to have sold on the show, his renovations were fake, and his profits came solely from scammed investors in his “Leccima Real Estate Company.” Sam didn’t even own a real estate license. Continue reading →