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Wednesday, March 14

"Class-action lawyers pounce in subprime crisis"

That's the headline from REUTERS.
MY headline would be:
"Stupidshits are suing other stupidshits because the stupidshits didn't tell the stupidshits that investing in their companies was a stupidshit idea".

Lawyers for investors hurt by the meltdown of mortgage lenders that cater to risky borrowers are likely to file a wave of class-action lawsuits against the lenders and possibly their auditors and bankers as well.

U.S. lawyers have already sued subprime lenders including New Century Financial Corp. and NovaStar Financial Inc. and their top executives for securities fraud, claiming they misled investors about the companies' finances and had lax guidelines for approving mortgages for borrowers with poor credit histories.

Hit the link for the rest of article.

And, FWIW, there's a Dec. 23, 2005 post over at the Wraith's Discussion Forums entitled, "Housing Bubble RAPIDLY Deflating" by "unlawfulcombatant" just in case the stupidshits try to say they didn't have a chance to see it coming.

Here's a bonus from 321Gold entitled "30-day Countdown to War"

"One of the results I can guarantee is that the US dollar is going to be destroyed. It's no great shakes predicting that. Hell, even the Comptroller General of the United States is running around telling as many people as will listen (about 14 in total, I reckon) that the United States is bankrupt. Between a two-trillion-dollar-losing war in Iraq, a balance of payments totally out of control and the Gang of Fools in Washington, you can pretty much kiss the dollar goodbye the day the attack (on Iran) begins. And don't think for a minute I'm talking about strictly the Republican fools in Washington. By their actions, or better yet, lack of action, the Democrats have proven since the last election that they can be just as corrupt and ignorant as the neo-Nazi Republicans."

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