The SuBPRiMe WiSDoM oF Bud Abbott and Lou Costello...



I just read Matt Taibbi's "Rocket Docket" article which ends with this:

"Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world's richest banks, which continue to rake in record profits purely because they got a big fat handout from the government. That's why one banker CEO after another keeps going on TV to explain that despite their own deceptive loans and fraudulent paperwork, the real problem is those deadbeat homeowners who won't pay their fucken bills...[I]n America it is far more shameful to owe money than it is to steal it."

We are living the nightmare Wall Street "heads we win, tails you lose" scenario. Every step of the way, that is the resounding theme.

Heads we collect fees and bonuses manufacturing bucket loads of asset backed toxic crap, tails your 401k and retirement plan loses.

Heads we get bailed by Uncle Sam, tails you pay.

Heads the Fed prints money to save the economy, tails we keep our jobs and bonuses and you stay unemployed.

Heads we fraudclose on your house, tails the judge says your papers are not in order. 

You know who I miss? I miss two comedians who were masters of depicting the simplicity of the swindle, the art of the scam and the plight of the tired victim, Bud Abbott and Lou Costello.

There is nothing really new about financial chicanery, fraud and deception when you break it down. What can be done on a street corner can just as easily be done in a corner office or a conference room. Different flavors, but the same old ice cream.

That is why during this subprime mother of Wall Street gang bangs,  I am constantly reminded of their comedy. They had a unique talent for distilling the art of the scam down to its purest essence. Here is a collection of some of their best work on the subject. Enjoy...


















If you are having trouble communicating the principles of PONZI USA to someone, you might want to try enlisting these two experts.


"Wall Street is dominated by some of the brainiest and shrewdest men in the country, natural born sharpers and schemers, and before the average man can get the better of them, except through the merest chance, he will have to eat brain food for a long time."--FRANKLIN KEYES 1910