http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html a finance news and opinion site Fri, 19 Mar 2010 15:42:00 +0000 hourly 1 http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-8411 Eric Mon, 06 Jul 2009 04:17:23 +0000 http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-8411 Those poor women. Happily, there is a solution, as there always is for "working people" - just have someone lend to them on an asset-backed basis, securitize the loan, pay a rating agency for a AAA rating, and sell the securities to the Fed. Bernanke will buy them for .95/$ at least, and they will likely perform a whole lot better than the other crap he's buying in this excellent cash flow business. And if it doesn't work out the Fed can always take the assets - they'll be right at home with all the other whores in DC, and will find good work there. Those poor women. Happily, there is a solution, as there always is for “working people” – just have someone lend to them on an asset-backed basis, securitize the loan, pay a rating agency for a AAA rating, and sell the securities to the Fed. Bernanke will buy them for .95/$ at least, and they will likely perform a whole lot better than the other crap he's buying in this excellent cash flow business. And if it doesn't work out the Fed can always take the assets – they'll be right at home with all the other whores in DC, and will find good work there.

]]> http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5760 Eric Sun, 05 Jul 2009 22:17:23 +0000 http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5760 Those poor women. Happily, there is a solution, as there always is for "working people" - just have someone lend to them on an asset-backed basis, securitize the loan, pay a rating agency for a AAA rating, and sell the securities to the Fed. Bernanke will buy them for .95/$ at least, and they will likely perform a whole lot better than the other crap he's buying in this excellent cash flow business. And if it doesn't work out the Fed can always take the assets - they'll be right at home with all the other whores in DC, and will find good work there. Those poor women. Happily, there is a solution, as there always is for “working people” – just have someone lend to them on an asset-backed basis, securitize the loan, pay a rating agency for a AAA rating, and sell the securities to the Fed. Bernanke will buy them for .95/$ at least, and they will likely perform a whole lot better than the other crap he's buying in this excellent cash flow business. And if it doesn't work out the Fed can always take the assets – they'll be right at home with all the other whores in DC, and will find good work there.

]]> http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5755 Vaudt Varken Sun, 05 Jul 2009 08:52:46 +0000 http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5755 It was a moralist decision of the dutch banks to no longer provide credit. It wasn't a financial decision. The referred to 'facelift' of the red light district is another megalomane plan of the municipality (that has already shown its incompetence by letting the costs for the construction of an underground subway double and subsequently balloon to EUR 3.1 bln) to basically shut down the marijuana selling coffeeshops and move prostitution to the edge of town. Added to the mix is a little corruption. One politician once proudly blogged she got such a nice new apartment in the red light district. She had insider knowledge of the aforementioned facelift, but didn't see a problem to use that knowledge. <br>I will refrain from further remarks about the moralist christian dutch government and the really shamelessly incompetent Amsterdam municipality. <br>I'll just add that the banks did the same with the coffeeshops. They can't even have a current account anymore from the dutch banks. <br><a href="http://www.hln.be/hln/nl/960/Buitenland/article/detail/548771/2008/12/13/Nederlandse-Postbank-zegt-bankrekeningen-coffeeshops-op.dhtml" rel="nofollow">http://www.hln.be/hln/nl/960/Buitenland/article...</a> It was a moralist decision of the dutch banks to no longer provide credit. It wasn't a financial decision. The referred to 'facelift' of the red light district is another megalomane plan of the municipality (that has already shown its incompetence by letting the costs for the construction of an underground subway double and subsequently balloon to EUR 3.1 bln) to basically shut down the marijuana selling coffeeshops and move prostitution to the edge of town. Added to the mix is a little corruption. One politician once proudly blogged she got such a nice new apartment in the red light district. She had insider knowledge of the aforementioned facelift, but didn't see a problem to use that knowledge.
I will refrain from further remarks about the moralist christian dutch government and the really shamelessly incompetent Amsterdam municipality.
I'll just add that the banks did the same with the coffeeshops. They can't even have a current account anymore from the dutch banks.
http://www.hln.be/hln/nl/960/Buitenland/article...

]]> http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5749 Joe P Sat, 04 Jul 2009 17:56:54 +0000 http://www.creditwritedowns.com/2009/07/bank-crisis-for-prostitutes.html#comment-5749 wait, why the hell do prostitutes need credit? wait, why the hell do prostitutes need credit?

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