It’s time for a TGIF open thread. Share your thoughts, both deep and shallow with your fellow addicts posters right here.
Washington Mutual Bank was the biggest Savings & Loan bank failure in the history of the U.S., with $307B in assets when in failed in September 2008. The Senate is investigating the failure of WaMu, among other banks and found that WaMu liked to party, as well as pat itself on the back while doing it.
But a 2006 WaMu retreat produced one of the more cringe-worthy moments of the mortgage meltdown: Lenders, on the eve of their industry’s collapse, singing “I Like Big Bucks” to the tune of Sir Mix-a-Lot’s 1992 hip-hop hit “Baby Got Back.”
…
“I like big bucks and I cannot lie/You mortgage brothers can’t deny,” sang the WaMu rappers.
The presentation, which included cheerleaders moving in time to the music, and choreographed moves by the singers, continued:
“That when the dough roles in like you’re printin’ your own cash/
And you gotta make a splash/
You just spends/
Like it never ends/
Cuz you gotta have that big new Benz/
All of that bling you’re wearin’/
Shining so bright peoples starin’/
It’s crazy, I gotta ski Aspen/
That’s all I’m askin’”
Oh please let someone find the video of this.
The Democrats’ plan to force Republicans to either stand with Wall Street banks or stand with the people may be working. Mitch McConnell does not have a unified caucus to block the financial regulatory reform:
Senate Republican Leader Mitch McConnell (Ky.) does not have enough solid commitments from GOP lawmakers to block consideration of a Democratic Wall Street reform bill.
McConnell has circulated a letter within the GOP conference that would have Republicans pledge to block a motion to proceed to a financial regulatory reform bill unless Democrats agree to reopen it for bipartisan negotiations.
The hold-out that we know of right now is Maine’s Susan Collins. The Democrats plan on introducing the bill to the floor next week. Hopefully we’ll get more footage of Mitch McConnell being called a liar as he reads almost word-for-word from a Luntz memo.