Humbug to yet another a modest proposal

But not funny. Or clever. Or swift. Perhaps it is Swiftean, but then I always thought Swift to be overrated.

A Wall Street Trader Draws Some Subprime Lessons: Michael Lewis

Sept. 5 (Bloomberg) — So right after the Bear Stearns funds blew up, I had a thought: This is what happens when you lend money to poor people.

Don’t get me wrong: I have nothing personally against the poor. To my knowledge, I have nothing personally to do with the poor at all. It’s not personal when a guy cuts your grass: that’s business. He does what you say, you pay him. But you don’t pay him in advance: That would be finance. And finance is one thing you should never engage in with the poor. (By poor, I mean anyone who the SEC wouldn’t allow to invest in my hedge fund.)

“Scrooge” Lewis strikes every wrong note on this piano. If you like watching car crashes, read it.

Humbug!

H/T: Barking Moonbat Early Warning System

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