Now Here’s A Scam: US Senate


From the Twitter rumor mill: If you’re a Senator and vote NO on the debt bill, you’re ineligible for the “super-committee.”

So if you, in good conscience, cannot permit a bankrupt entity to borrow even more money, then you can’t be part of the solution to going more bankrupt.

And let’s be clear about this: There’s no bank in the world that would lend to a private person or institution that had a total debt of some seven times it’s gross revenue.

(Hint: Go try to get a mortgage with that sort of debt profile.  You’ll get laughed out of the building – well, you will now.  In 2005 with an OptionARM?  No problem – just go “NINJA”.  Of course we know how that ended, right?)

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