Category Archives: Big Shitpile

Big Sh-tpile Just Keeps Rolling Allonge

SEE WHAT I DID THERE? Perhaps not, because you might not be familiar with allonges. An allonge is an additional document that allows additional signatures to be attached to a document. Boring. Unless you’re bundling mortgages. Then it’s very exciting! … Continue reading

Posted in Bidness, Big Shitpile | 2 Comments

Apparently, Shared Sacrifice Means Sixteen Cents on the Dollar

I have no idea what these retirees are supposed to do (boldface mine): Allen and his colleagues are among 30,000 Detroit city workers, past and present, who are about to learn what will happen to their pensions and healthcare if … Continue reading

Posted in Basic Human Decency, Big Shitpile | 2 Comments

The Breakdown of Property Law: The Boca Raton Squatter Edition

I always suspected that when I posted about the breakdown of property law that accompanied the collapse of Big Shitpile (aka the housing crisis) some readers thought I was being a little over the top. Well, it turns out this … Continue reading

Posted in Big Shitpile | 5 Comments

So I Really Did Get Overcharged for a Saline IV

By now, you might have come across this Time article by Stephen Brill about the completely ridiculous price scheme in our medical non-system. Here’s one example (boldface mine): The top billing categories were $73,376 for Scott’s room; $94,799 for “RESP … Continue reading

Posted in Big Shitpile, Healthcare | 2 Comments

Obama Completely Reinvents the Economic History of the Last Decade

Following on Kevin Drum’s request to critique the debates on substance, not style, I, like Yves Smith, was really troubled by this statement by Obama about public deficits (it’s amazing how different my personal take was having read it; boldface … Continue reading

Posted in Big Shitpile, Economics

Securitization of Rents: WHEEEE!!!!

I’m old enough to remember the collapse of Big Shitpile, but apparently the financial sector is not. One of the things that led to the massive bubble in housing prices was the willingness to gave any hominid, regardless of ability … Continue reading

Posted in Bidness, Big Shitpile | 7 Comments

This Is a Really Big Dog

Actually, having studied non-lab E. coli and thus knowing more about poopology than anyone ever should, this isn’t a dog, it’s the aftermath of a horse: Darmouth St., at Commonwealth Mall, Jan. 29, 2012 It does make you appreciate cars … Continue reading

Posted in Big Shitpile, Boston, Poop | 1 Comment

Meet the New Boss: The Sociopath As Banker

Brian Basham writes: In a paper recently published in the Journal of Business Ethics entitled “The Corporate Psychopaths: Theory of the Global Financial Crisis”, Clive R Boddy identifies these people as psychopaths. “They are,” he says, “simply the 1 per … Continue reading

Posted in Basic Human Decency, Bidness, Big Shitpile, The Rule of Law | 2 Comments

Larger Homes Were Not Due to an “Expenditure Cascade” But Were Rational

For home builders. One of the problems I have with behavioral economics is that too often what is described as a cognitive or psychological glitch is actually very rational behavior as long as you correctly identify the underlying incentives. Robert … Continue reading

Posted in Bidness, Big Shitpile, Economics, Housing | 1 Comment

How Mortgage Relief Could Have Been Done Fairly: Profit Sharing As Delayed Penalty

If nothing else, it appears that Occupy Wall Street, despite the chattering class’ inability to decipher the obvious, has managed to sneak debt relief onto the List of Suitable Topics for Discussion. Steve Randy Waldman, in an interesting post, about … Continue reading

Posted in Big Shitpile, Economics, Housing | 6 Comments