One of the nice young men who does the Planet Money podcast on the NPR somehow lured Edward Conard, who you might remember as the guy who created a shell corporation that existed only to donate $1 million to Mitt Romney's SuperPAC , out to a plebeian coffee shop to talk about rich people. As a rich person-American, Edward Conard is very upset -- more disappointed than angry, really -- at some of the rhetoric coming from the poors, who don't understand that rich people getting richer is good for everyone. He talked at great length, at this coffee shop meeting! Then our NPR gotcha journalist
Also, he&#039;s exhibiting the exact kind of thinking that Paul Krugman <a href="http:\/\/www.pkarchive.org\/trade\/company.html" target="_blank">warned</a> is why being a successful private-sector executive should be considered a black mark against those seeking political office: business people usually abjectly fail to understand that a national economy is close to a zero-sum game, and their &quot;success&quot; at wealth and/or job &quot;creation&quot; is in reality mostly (or entirely, in the case of extractionists like Bain) at someone else&#039;s expense.
Worse than that, they&#039;re SO FUCKING CONVINCED that they didn&#039;t in fact accumulate wealth from others, but that they majickally <em>created</em> that wealth by being the Federal Reserve because Jesus and Joseph Smith each have a planet full of wives.
I love how this guy&#039;s Bedford Falls theory on the economic collapse depends on circumstances that could only have happened if the FDIC had never been born.
This guy&#039;s a first rate moron, a fucking liar, or both.
Basically <em>nothing</em> he said is true. For example, the two big bank failures which precipitated the crisis could not possibly have been caused by a classic <em>Wonderful Life</em>-style run, because Bear Stearns and Lehman Brothers were both what are known as <em>non-depository institutions</em>. Regular folk did not have their savings in either bank, fat cat goatfuckers like Conrad had their twenty-fourth or twenty-fifth million stashed away there. Also, while Bear&#039;s demise was a result of illiquidity, Lehman were flat-out fucking broke, their liabilities exceeded their assets, and no amount of patiently waiting for loans to mature before cashing out could have altered that.
BTW, is this guy in any way connected to (specifically, by being the same person as) the Ed Conrad who thinks he found 280-million year old human skulls in his back yard and this means God created man because science!? [Edit: no he isn&#039;t, my brain just autocorrected the dumbass way this moron spells his name :P]
In order to ensure a good painting surface, he should first have an encounter with <a href="http:\/\/www.ovguide.com\/video\/a-fish-called-wanda-kens-revenge-922ca39ce10036ba0e1104156fcf5c96" target="_blank">k-k-Ken</a>.
<a href="http://www.youtube.com/watc..." target="_blank">" rel="nofollow noopener" title="http://www.youtube.com/watch?v=dLtyV1WkFFo">http://www.youtube.com/watc...
Yeah I&#039;m with Moe...
In other words, if it&#039;s a boy, Glack.
So to sum up, if I may: Conard&#039;s full of shit, the end.
Retail customers almost wrecked the banks. Greedy so-and-so&#039;s.
Banks should be protected from this trauma by an unlimited number of blank checks from good ol&#039; Uncle Sam.
Also, he&#039;s exhibiting the exact kind of thinking that Paul Krugman <a href="http:\/\/www.pkarchive.org\/trade\/company.html" target="_blank">warned</a> is why being a successful private-sector executive should be considered a black mark against those seeking political office: business people usually abjectly fail to understand that a national economy is close to a zero-sum game, and their &quot;success&quot; at wealth and/or job &quot;creation&quot; is in reality mostly (or entirely, in the case of extractionists like Bain) at someone else&#039;s expense.
Worse than that, they&#039;re SO FUCKING CONVINCED that they didn&#039;t in fact accumulate wealth from others, but that they majickally <em>created</em> that wealth by being the Federal Reserve because Jesus and Joseph Smith each have a planet full of wives.
Well, he has a point there, because John Edwards.
<em>(sorry, when you&#039;ve recovered from that low blow, I&#039;ll buy you a drink)</em>
I love how this guy&#039;s Bedford Falls theory on the economic collapse depends on circumstances that could only have happened if the FDIC had never been born.
This guy&#039;s a first rate moron, a fucking liar, or both.
Basically <em>nothing</em> he said is true. For example, the two big bank failures which precipitated the crisis could not possibly have been caused by a classic <em>Wonderful Life</em>-style run, because Bear Stearns and Lehman Brothers were both what are known as <em>non-depository institutions</em>. Regular folk did not have their savings in either bank, fat cat goatfuckers like Conrad had their twenty-fourth or twenty-fifth million stashed away there. Also, while Bear&#039;s demise was a result of illiquidity, Lehman were flat-out fucking broke, their liabilities exceeded their assets, and no amount of patiently waiting for loans to mature before cashing out could have altered that.
BTW, is this guy in any way connected to (specifically, by being the same person as) the Ed Conrad who thinks he found 280-million year old human skulls in his back yard and this means God created man because science!? [Edit: no he isn&#039;t, my brain just autocorrected the dumbass way this moron spells his name :P]
I&#039;ll take the kidney that hasn&#039;t been wrecked by years of alcoholism and cocaine abuse, thanks.
In order to ensure a good painting surface, he should first have an encounter with <a href="http:\/\/www.ovguide.com\/video\/a-fish-called-wanda-kens-revenge-922ca39ce10036ba0e1104156fcf5c96" target="_blank">k-k-Ken</a>.
Thus creating jobs, the only way they know how: negatively.