Wall Street Got Drunk....And We Got Soaked!

Friends:

Wall Street Got Drunk….
And We Got Soaked !

At a Houston fund-raising event to aid in perpetuating the Republican Plunder, the Pontificator of Profundity, George W. Bush, uttered these words of explanation of the current credit meltdowns:
“Wall Street Got Drunk!”

GWB knoweth whereof he speaketh. Frat boys have a deep knowledge of the effects of alcohol, not the least of which is the lowering of rational judgment, first among coeds and later among unsuspecting unsophisticats.

It is actually a pretty good analogy of how the House of Cards imploded ~~ unregulated experiences with esoterically toxic financial instruments called “derivatives” that got out of control. … like a bunch of Friday night frat parties tend to do.

Daylight on any given “Day-after” exposed the telltale consequences of the previous night’s debauchery in the most ne plus ultra way ~~ from rancid containers of high-octane juice to articles of clothing of all sorts, many with V.S. labels, strewn throughout the “house”, lawn and shrubs. Clearly the party was over, and the cleanup was beginning. Of course, the participants were nowhere to be found ~~ pledges did the dirty work, as always.

But the party was a lot of fun. Good stories abound. The music played:
Loud,
Louder
Louder it went.
Laughter echoed throughout the halls, screams of joy were heard, wine, beer and fine drinking whiskey flowed freely ~~ and louder still the music played, as we all danced to the hypnotic drumbeat of euphoria.

Then suddenly, Darkness, Silence ~~ that dread silence that augers an ominous event. Voices quieted, “Play on”. Someone tested the dead silence of the room. Then Movement ~~ someone running to the door, yelling, “The House is falling in.” The crowd grew restless, madly struggling to extricate themselves from whatever was to occur.

Instantly doors slammed shut. All exits were blocked ~~ too late to escape the prophetic effects of “Irrational Exuberance.” Cries of, “Save us, save us,” were heard. Shrieks punctuated the air, wailing and gnashing of teeth broke the silence of the place. Too late ~~ the Partiers stayed too long.

In the cleanup next day wails of lament and piteous cries were heard as the party was relived. Survivors were unearthed from the detritus of the debauchery and repentances were uttered throughout: “Never more, never more….”

The credit debacle clean up is just beginning. Surely someone is to blame? Right? It was greedy securities merchants, banks and every other person or institution that promised an easy life with wealth beyond all sense of proportion.

“I did not say you were at fault, I said I was going to blame you.” (T-shirt)

Point your finger at whomever or whatever you want, and notice that three fingers always point to you ~~ try it.

Yes, Wall Street had a party and we all got drunk! I hope you enjoyed yourself, because the clean-up is going to occupy a great deal of your time now. But on a positive note: Sit down, shut up, shuffle the cards and deal ~~ and let the good times roll, again. They will, sooner or later.


Bud
July 24, 2008