January 24th, 2012at 07:33am Posted by Eli
Mitt Romney’s response to a guy who went bust on real estate investments and is considering leaving the country so he can afford his retirement:
Yeah. It’s just tragic, isn’t it? Just tragic, just tragic. We’re just so overleveraged, so much debt in our society, and some of the institutions that hold it aren’t willing to write it off and say they made a mistake, they loaned too much, we’re overextended, write those down and start over. They keep on trying to harangue and pretend what they have on their books is still what it’s worth.
The banks are scared to death, of course, because they think they’re going to go out of business. They’re afraid that if they write all these loans off, they’re going to go broke. And so they’re feeling the same thing you’re feeling. They just want to pretend all of this is going to get paid someday so they don’t have to write it off and potentially go out of business themselves.
It’s probably not a great idea to pivot your expression of sympathy to those poor terrified banks. Not if you actually want to get elected. I’m just sayin’.