Friday, July 25, 2008
Sunday, July 20, 2008
In a scene reminiscent of a 1930's Depression era run on the banks, Indymac depositors angrily lined up earlier last week to demand their money after the bank was taken over by the FDIC. Adding credence to the theory that money and brains are mutually exclusive, it was reported that at least 10,000 of Indymac's 275,000 accounts had in excess of the federally insured limit of $100,000. How can someone who was able to accumulate over $100,000 be so dumb and leave savings exposed like this? But the best part of the story carries a "What goes around comes around" plot. It is best summarized by the following commentary from the Huffington Post:
Hmmmm...no black people involved in this riot?.... Of course not! Not many people of color have neglected bank accounts with balances over 100 grand. I must admit to a wee bit of schadenfreude watching these very well-heeled, overwhelmingly white Republican Ditto-head supporters of McCain/Bush & Co. and their "free-market", no government oversight or regulation, every man for himself brand of capitalism, out there shoving each other around like a bunch of rowdy anarchists and whining for the government to step in now and give them their entitlement of the amount of their fortune that they knew was not insured. They have finally reaped what they have sewn!