In Soviet America…
In Soviet America… banks borrow money from you!
(Washington Mutual Store-front)
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I don’t really get it.
WaMu just failed and was sold to another company. Big news.
Because “our” President is socializing the debt. Get it?
you mean “All” of our Politicians are socializing the debt.
… I think that’s what they mean. *sigh*
I didn’t know President meant all Politicians… “sigh”
Oooh, News Fail for you, buddy. JP Morgan Chase bought WaMu. The loan might have federal backing, but the money came from Chase, not the public. My wife was just in Miami helping convert WaMu branches to Chase.
It’s called Russian Reversal
http://uncyclopedia.org/wiki/Russian_reversal_(joke)
Banks ran out of money, Government paid their debts by buying their stock, meaning the US owns most of its main banks and insurance (IRONY!) Companies.
if we own most insurance companies couldn’t we just nationalize health care really quickly BTW?
lol! sneaky!
except that it’s not the health insurers they’re buying . . and you’d have to buy-out the hospitals and physician groups as well. Insurers are just the middle-men.
Bwah !
Most hospitals are either community owned or run by investment groups, not by doctor groups except in small towns. Look up Tenet corporation. And some of the investment groups are owned by overseas groups.
If you wanna see what a government run Health care system looks like- go to the nearest VA hospital. That’s what they’ll all look like. The biggest problem medicine has today is the fact that the government already runs half of it and wants the rest.
Course it sucks too when the hospital is run by an investment group that only worries about profit.
Sorry for the rambling- I’m feeling sorta Seth-y today.
You flatter me. How come life expectancy in countries with socialist medicine is so much higher than ours. They live 10 years longer in Canada than we do. They have lower infant mortality, too. Our medical system makes us look third world. Face facts: socialist medicine works better. The free market does not work for things like medicine, demand is too inelastic. No matter how much they charge, people will buy it, and the barriers to entry into the market prevent real competition. Just look at the evidence. Look at infant mortality, and life expectancy. Facts don’t lie: socialized medicine works better.
–
No, your made up anecdotes about people waiting for treatment don’t count. I can tell you just as many horror stories about not getting treatment here. The plural of ‘anecdote’ is not ‘data.’
OMG………socialized medicine totally sucks!! I know first hand with a dead mother in law and a father in law who needs a bypass but the British government won’t let him have one for “cost”. Don’t even kid yourself!! I’ll give the Brits credit tho in that they have both the government AND private insurance and practice. The ones who have the latter fair much better, and guess what……if they get cancer they’re coming HERE to the US for treatment. Nuff said.
Too… much… ignorance… No… words… Should have… sent… a poet…
Well, I’m a poet
One who’s not too ignorant
Still, I’m dense enough…
The biggest problem with the VA is they’ve tried to privatize it by contracting out VA functions. The problems at Walter Reed were caused by a contractor trying to pad their profit by ignoring upkeep.
There also seems to be absolutely no continuity in a normal visit. You just get bumped around from waiting in one line to the next for someone to sign one piece of paper so you can bring it over to another line.
The unofficial motto of the VA ? “We don’t care if you live or die, just as long as the paperwork is filled out correctly”.
Official motto ? ” We don’t care- we don’t have to- we’re government employees”
Republicans always like to say government doesn’t work, then when they get elected they prove it.
Actually, go to Sweeden to get a glimpse of health care. A former coworker of mine is from Sweeden and said their national healthcare has been over-run by immigrants. You have to wait on a list for 6 months for dental care. If you have to have more than one tooth pulled, they pull one, then tell you to get back inline and they’ll pull your other tooth the next time you’re allowed to come in.
What absolute rubbish, pretty much the kind of uninformed opinion you’d expect from someone who can’t even spell Sweden, never mind understand their healthcare system.
Curiously they still manage to live longer though. Also curious that your former co-worker was telling you easily disprovable lies and had an unhealthy preoccupation with immigrants. Just where was it you were working at the time and did you have rather too much pre 45 German memorabilia about the place?
So glad I live in Canada where I don’t have to worry about healthcare! If anything happens, I know I can walk into a hospital or a clinic and get treatment right away… no insurance, nothing!
I think I was 16 years old before I found out that Americans had to buy health insurance before they could get any sort of treatment… and even now I don’t get why everything is privatized like it is down there.
You don’t have to have health insurance to get health care, it will just cost you an arm and a leg.
and if you don’t have an arm and a leg, what happens then? No healthcare.
Then you go to the ER where they have to treat you. My Mom always has patients who repeatedly come in and either give a false address or none.
This is hillarious! I wanted to laugh so bad, but I couldn’t get enough air between sobbing.
Dry your tears with shares
Of WaMu stock; also good
For wiping elsewhere
*golf clap*
I think it was J.P. Morgan Chase that bought them out, overnight BTW. Not to mention the nice going away present the new CEO of WAMU will be getting for only 3 weeks on the job….$20 million.
This whole thing worries me since I work in IT for a large bank(one that hasn’t sunk …yet), I might not have a job Monday. I never know who they want to cut.
Who the hell rolls the cuff of their jeans anyway?
Hell. Get a job in consulting. That’s the place to be in a downturn.
become a mortician, or work at funerals, or become a gravedigger. everyone dies, and its one niche no recession can kill
IT won’t get cut as long as you make sure your bosses know you’re the only ones who know the system.
The company I work for was hired on to work with what’s left of their IT depts. Hell, the guy I replaced trained me, then they booted him. They downsized a few months ago and outsourced their helpdesk to india and their inhouse techs to my company. They might just cut us loose after the 6 month contract is up, but then they’d be right back where they started.
Did that poor guy know he was training his replacement?
Yea. I felt bad for the guy. I spent 2 weeks feeling like a douchebag.
That’s why I still have my job, and the 2 other guys I work with. We are working with India right now on an updated version of our legacy reporting system after that goes into place we may be out too. I heard recently that IT in India is pricing itself out of the market and companies are starting to look at China.
China..really? That’s comforting.
India is outsourcing its outsourcing to China, lol. Not enough decent English speakers. Outsourcing tech support has proven more costly in many cases than keeping it here. The best idea? Outsource it to small town America. They speak English and, sadly, they’ll work for near as cheap.
10/10
I never thought I’d see a picture of my good friend on Pundit Kitchen.
WaMu’s assets were purchased by JPM&C. The American Public is picking up the bad paper, but the FDIC is now claiming there won’t be any insurance losses in the takeover. Much more orderly than the IndyMac takeover.
I’m a mortgage broker. Seeing stuff like this happen murders my soul.
Yes, WaMu’s “Chasened”
Not to mention thoroughly
JP’ed and Morganed
Aw, crap. HTML fail. Not that shameless promotion of our clubhouse blog is appropriate in the comboxes anyways. It’s just neat to see a friend in a LOL.
you missed the html:\\
But I didn’t know html worked in the comments. Nice to know.
Hmmmm, I just got a credit card app in the mail from WaMu today…
Thats because you can still get a credit card with them, and it will be a Wamu card and the fees will be by Wamu’s terms till maybe around 2010. A lot of people think that because it was bought out thats its closing, but actually joining JPMorganChase will make the “merger” the second largest bank in the world (or so I’ve been told) . Basically it will be a “branding change” and even that is gonna take a long time to take effect. We’re talking about two extremely large corporations being integrated into one single system…it’s gonna take a lot of work and long while.
Actually, if you understand how banks work, this is always true.
When you make a deposit, you are lending money to the bank.
Which is true, tis why you get interest on your money as payback.
Wait, is that the “Dude, you’re getting a Dell!” guy in that pic?
The bank had to take his right arm for collateral.
pants fail.
13th comment. 13? oh crap…
A+ win.
first i was like WTF? Soviet america? Then i LOL’d.
If anyone needs this explaining, click my name and allow Sarah Palin to give her well thought out views on the subject. Should clear everything up for you.
I’m not sure whether to laugh because this is funny, or cry because it’s true.
We are living in SOVIET AMERICA–almost not quiet
Wake up young Americans the Nintendo and Play stations are games. Study to know your country and what is happening and do not be divided by the hype. What is different from America’s pre-emptive policy and invasion of Iraq and Russia invasion of Georgia? What do you think is the difference in these two countries’ politics. C say “I never thought I’d see a picture of my good friend on Pundit Kitchen. WaMu’s assets were purchased by JPM&C. Who is J P Morgan and what is the Chase Rockefeller group? Is this a transfer of wealth by proxy or what? How many of those you chose to lead this country are up on economics 101? Is you ready for more than the Nintendo challenge? Know two things—the old games will fail if truth prevail and a thief can’t pass good title.
Can you retype that in English please? Your horrible grammar offends my eyes, makes English teachers everywhere cry and probably made at least SEVEN puppies explode.
“Actually, if you understand how banks work, this is always true.
When you make a deposit, you are lending money to the bank.”
I was thinking the same thing…that IS how a bank is supposed to work.
Never in the history of this board have i seen a cation so relevant that it frightens me.
WilliamCA
Uhm…when ever you put money in the bank you are giving the bank a loan. That is how it works. They use your savings as reserve for the loans they give out.
funny stuff.
Uhmmm… actually, I think this is a play on how Yakov Smirnoff a comedian from the 80’s used to work his jokes. “In Soviet Russia, car drives you!” etc… etc… since this bail out is a very socialist idea to some.
http://en.wikipedia.org/wiki/Yakov_Smirnoff
I can’t believe I’m the only person who got this joke… seriously… I can’t be that old.
you aren’t the only one who got it. i make Yakov reversals quite frequently.
In fact, in soviety russia, these kinds of jokes are the only ones that GET YOU!
Search Yakov Smirnoff… you’ll get the joke then.
WAIT!!! Banks borrow money from me? If I would have known that I wouldn’t keep all my cash in the mattress! Shoot what a wonderful idea of me lending the bank money and getting paid interest on that deposit instead of the other way around. GADZOOKS! Perhaps the banks may use those funds i give them to lend to other people and they in turn make a percentage off of that? Those crafty money lenders!
Mockery Target FAIL.
This was meant to ridicule the “bailout” the taxpayers would pay for the FDIC insurance on a collapsed bank.
Only… WAMU didn’t get any from FDIC – since it was bought by JP Morgan, they covered the costs. Of all the collapsing banks, WAMU is one that DIDN’T take money from the taxpayer, unlike AIG, Fanny Mae / Freddy Mac, etc..
you bring up a very good point … if anything joining JPMorganChase is going to BENEFIT Wamu customers.
Sieg Howdy, y’all comrades.
Actually, what do you think you’re doing when you put money in a savings or checking account? That’s the bank borrowing money from you in order to invest. How else do you think banks get money to invest from? Seriously, you need economics 101.