A former member of the Goldman Sachs management committee was not so sure. “Don’t you think, out of 10 million data points, there will be 500 unbelievably screwy examples? It’s a little bit so what,” he said on Tuesday. “I don’t get it. It doesn’t feel like this is fraud. Maybe there is sloppiness, but at the end of the day, people took out mortgages they can’t pay back. Now I worry that if anything, the government is making something that is just a clerical error into something that would be nefarious or whatever.”
“It seems a lot about it is, like, notaries,” the Goldman source said. “I didn’t know anyone even focused on what a notary did! It almost struck me as some kind of anachronism that must have had some value in the past—which I don’t understand.”
Dude, like who pays attention to what notaries do, anyway? Isn’t that totally old or something? Who cares about what people used to do in the past? I don’t get it.
We aren’t ruled by our superiors. We’re ruled by spoiled teenagers, greedy little ignoramuses who are morally undeveloped and have childishly narrow mentalities. The fact that they use slick terms like ‘data point’ or ‘compensation-to-revenue ratio’ isn’t much different in principle from the fact that a seven-year old can program an iPod or master a video game. Here’s a couple of them throwing around a few ideas about how to solve the mortgage-fraud crisis:
“The question to me is not do you foreclose or do you not foreclose. The question is when and with what philosophy you foreclose,” the man on the bank restructuring team said. “If you want to reduce the amount of leveraged homeowners you have, you need to ultimately kick them out of their homes.” A colleague walked up: His recommendation was to burn houses. It would lower the supply.
Kick them into the street and burn their houses down. That would be so totally awesome!
We’ve peacefully given power to an obscenely rich uber-class of rotten kids whose thoughts and morals are no more sophisticated, or evolved, than that.
If it wasn’t so tragic, it would just be fuckin’ embarrassing.