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Old 03-23-2009, 01:20 PM
 
495 posts, read 661,939 times
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Dear Comrades,
Here is the action order of the day, according to the Ministry of Information for the munificent one: Big Brother Barack Obama our leader and protector:


“Henceforth, toxic assets — those inconvenient under valued properties that have mysteriously shown up on the People’s financial balance sheets – shall from this day forward be known only as ‘legacy assets,’ which defines the true nature of these bequested properties to the People.


Link to rest.
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Old 03-23-2009, 01:46 PM
 
2,539 posts, read 2,381,604 times
Reputation: 492
Quote:
Originally Posted by progressive25 View Post
Dear Comrades,
Here is the action order of the day, according to the Ministry of Information for the munificent one: Big Brother Barack Obama our leader and protector:


“Henceforth, toxic assets — those inconvenient under valued properties that have mysteriously shown up on the People’s financial balance sheets – shall from this day forward be known only as ‘legacy assets,’ which defines the true nature of these bequested properties to the People.


Link to rest.
This is Geitners plan - another trillion of bad debt dumped on taxpayers, while the rich boys already took theirs out. and the market loves it!
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Old 03-23-2009, 01:52 PM
 
7,987 posts, read 11,226,564 times
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Will Toxic Michelle now be known as Legacy Michelle?
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Old 03-23-2009, 01:53 PM
 
Location: Alvarado, TX
2,914 posts, read 4,253,861 times
Reputation: 794
El jefe has spoken.
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Old 03-23-2009, 01:54 PM
 
Location: Santa Monica
4,708 posts, read 7,717,192 times
Reputation: 1029
Notice in today's Yahoo Finance news (video) where economist Galbraith refers to the bankers as "massively corrupted."

http://finance.yahoo.com/tech-ticker...Galbraith-Says

Last edited by ParkTwain; 03-23-2009 at 02:04 PM..
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Old 03-23-2009, 01:59 PM
 
Location: The Great State of Texas, Finally!
5,349 posts, read 10,845,474 times
Reputation: 2442
Remember the core of the book 1984 was the ability of the govt to have words take on different meanings. That's the way to keep the masses off balance and "in order." So spending = investment, breaking promises = reassess, wealth redistribution = realignment, toxic assets = legacy. Got it.
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Old 03-23-2009, 02:04 PM
 
9,742 posts, read 9,331,500 times
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How ironic that an OP challenging the use of language begins with "Dear Comrades."
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Old 03-23-2009, 02:05 PM
 
Location: Santa Monica
4,708 posts, read 7,717,192 times
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Of course, the bankers want to spin the situation as "toxic assets" rather than "stupid decisions."
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Old 03-23-2009, 02:12 PM
 
9,742 posts, read 9,331,500 times
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Quote:
Originally Posted by cobolt View Post
Remember the core of the book 1984 was the ability of the govt to have words take on different meanings. That's the way to keep the masses off balance and "in order." So spending = investment, breaking promises = reassess, wealth redistribution = realignment, toxic assets = legacy. Got it.
These assets are legacy assets, so your confusion and/or anger is misplaced.

A toxic asset would be...oh...I don't know...a boatload of cocaine. While too much debt can have negative consequences, you won't get sick or die from eating your mortgage contract.

In actuality, the term "toxic assets" is Orwellian. The term "legacy assets" is descriptive.
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Old 04-02-2009, 02:27 PM
 
2,539 posts, read 2,381,604 times
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Quote:
Originally Posted by nvxplorer View Post
These assets are legacy assets, so your confusion and/or anger is misplaced.

A toxic asset would be...oh...I don't know...a boatload of cocaine. While too much debt can have negative consequences, you won't get sick or die from eating your mortgage contract.

In actuality, the term "toxic assets" is Orwellian. The term "legacy assets" is descriptive.
Yes, they are a 'legacy' that you will pass on to your childrens children
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