4049

Maybe he could take up golf

Lionel Tiger is an anthropologist who sees himself as an economist when he writes for the op ed page in the WSJ. I see him as a poet, because his writing about the subprime mess is so obscure and squishy, it just screams for the pages of Poetry. In today's piece he writes movingly of Maria (note the Hispanic, i.e. working class allusion) and her home loan problems. Tiger says that the savings and investment industry is built on optimism and overestimates--by all parties, but the blame when that goes awry does not go to Maria, however. Here's where I see the poetry.

Blame
by Norma Bruce
based on Lionel Tiger's essay

For Allen who
never checked Maria's paperwork,
who assumed because she had a heartbeat
she was both
fine and subprime
all at once and
he didn't give a damn.

For the companies who
lurked outside
the gated-city building sites
promising the moonlight
on the deck
for just a little
overestimate please.

For the regulators who
couldn't follow
the trail of crumbs
leading from an
intimate overestimate
by a hopeful Maria
for a humble bungalow.

For the massive banks of Paris who
decided to close
their cash windows
and take
a long lunch
just when Maria comes
to refinance.

For the rating agencies who
are largely paid by the
companies they rate
[without a word to condemn the social scientists
who urged the high-risk, poor-credit workers
before they were ready,
to grab for the American dream.]

Read about banking on illegal immigrants, and see how business, the federal government loop holes and do-gooders work together, but we the people will pay.