Saturday, September 27, 2008

What the hell is a "toxic asset"?












That's right, a "toxic asset" is really a "worthless asset", which is what all these mortgage based derivative scams turned out to be - worthless.

Not surprisingly, the clowns most responsible for this meltdown have jumped on this euphemism with delight, and the press doesn't seem to be questioning it. Why make rich, powerful people take responsibility for what they've done when you can sidestep it by making up new, exciting, meaningless descriptions?

You don't ingest assets. They don't poison you, or burn your skin. You buy and sell them, and if they become worthless, they really shouldn't be bought or sold anymore. But that's what our government is proposing to do - buy these "assets" with our money.

Aren't you tired of these pathetic euphemisms? More to the point, aren't you tired of this incompetent administration? I know I am.

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