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There is no law that prevents banks from making stupid loans or taking outsize risks with taxpayer money.If another big bank stumbles and threatens the economy, it's hard to picture Uncle Sam backing away with no taxpayer involvement.
He took long lunches with friends, carping to them about "stupid loans".
"Every economist or analyst can find fault with each business case or country crashing all around us. The Telcos binged on debt.' Japanese banks made stupid loans.' The Argentineans are corrupt.' The Turks can't get their act together.' By insisting that each one is a special case, experts ignore the larger, systemic, global problem: All debtors are going broke!
Or like the incentives banks gave loan officers to make stupid loans -- incentives the government is now looking to regulate so that people who make loans only get incentive payments if the loans perform over a reasonably long period of time.
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Take your debt and your stupid student loans and your useless fucking university degrees and fuck off!
Sheila Bair, the former head of the Federal Deposit Insurance Corp., writes in a new book that requiring each borrower to prove that he or she could qualify for a new loan was "stupid".
And then Mr. Blumberg asked Mr. Nathan the stupid question: "Would you have loaned you the money?" Mr. Nathan answered: "I wouldn't have loaned me the money.
It sits unnervingly close to hypocrisy: my necessary loan is your stupid debt.
These are some of the stupidest things people have blown their student loans on.
"Does Christmas have to start with a payday loan?" Doh, it's a rhetorical question, stupid.
"I don't like the emergency loan system, but I am not so stupid that I won't use it as we are now very short of strikers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com