#collaps

The American share of the crisis began with grossly improper mortgages provided to wholly unqualified borrowers, all directly caused and encouraged by government distortion of and interference in the market. The government’s market deformation and market intervention was in turn the result of two factors: political favouritism and Leftist ideology, on the one hand; and upon the other, corruption: the blatant cooption of such Friends of Angelo as Mr Dodd and of such bien-pensant Lefties as Mr Frank. The stability and efficiency of any market is directly proportional to the amount and trustworthiness of market information. The Yank Congress, for blatantly partisan and ideological reasons, gave out false information to the market, pushing lenders into making bad loans and giving out, with the appropriate winks and nudges, that Fannie (will Americans ever realise how that sounds) and Freddie, imperfectly quangoised, were ‘really just as good as the Treasury’ and were in any case ‘too big to [be let] fail’: which, as it happens, was untrue. Similarly, this moronic mantra of ‘too big to fail’ was chanted desperately and loudly to drown out the warning sounds of various financial institutions on the brink and of the automobile industry. Incomprehensible sums of public money were thrown at these corporations so that they could avoid bankruptcy, and have succeeded only in privatising profit whilst socialising risk. ↗

— G.M.W. Wemyss

#economics #global-economic-crisis #money

I was just thinking... isn't it lucky that we decided to become co-editors? If one takes a blow to the head, the other can fill in. If the other's lung spontaneoulsy collapses, the one can fill in. It's a perfect system once you think about it." ~Will Landsman ↗

— Gabrielle Zevin

#comedy #head #memoirs-of-a-teenage-amnesiac #spontaneous #comedy

So all the system was running down and collapsing. Mrs. Thatcher became the leader of the Conservative Party in February 1975, and she clearly wanted to strike out and do something different. ↗

— Kenneth Baker

#clearly #collapsing #conservative #conservative party #different

An American of the present day reading his Sunday newspaper in a state of lazy collapse is one of the most perfect symbols of the triumph of quantity over quality that the world has yet seen. ↗

— Irving Babbitt

#collapse #day #his #lazy #most

I couldn't hold it together today. George Clooney asked me if I was OK, and I practically collapsed. I couldn't stop crying, I had to go off sobbing like an idiot. ↗

— Candice Bergen

#clooney #collapsed #crying #george #george clooney

Man steps on an ant when he can't catch the fly. ↗

— Bill Gaede

#economic-collapse #environmentalism #extinction #gaede #globalization

Initially charged with assaulting a police officer and resisting arrest I was held for 36 hours, was beaten by cops and made to stand spread eagled against the cell wall for 12 hours with no food or water, until I collapsed. Everyone was strip searched on the way in. ↗

— John Blair

#arrest #assaulting #beaten #cell #charged

I think the best president - because he changed the whole mood of the country, the whole economy of the country, and stood up to Communism... that was continuing its causes around the world, and backed them off and caused them to collapse - and that was Ronald Reagan. ↗

— Pat Boone

#backed #because #best #caused #causes

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed. ↗

— Nigel Farage

#bad #bad government #banking #caused #collapse

How many times do you take yourself to the brink of complete collapse? It's not a real fun place to go. ↗

— Bryan Clay

#collapse #complete #fun #go #how