How to make money from "failure".

Discussion in 'Economy' started by rdean, Apr 29, 2010.

  1. rdean
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    rdean rddean

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    1. Deregulate Wall Street

    2. Move mortgages from Freddie/Fanny to the now deregulated Wall Street

    3. Give out mortgages like candy corn to anyone who will sign the dotted line

    4. Bundle mortgages into "securities"

    5. Insure securities

    6. Sell "insured" securities overseas to unwary investors who trust America

    7. Watch home owners "default"

    8. Go to insurance companies and collect on hedged "securities" that are now worthless

    9. Laugh all the way to the bank

    10. Collect huge bonus for making so much money

    See, I didn't say the "R" word a single time. And I am NOT talking "de-Regulation".
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    11. Become a politician in general and a democrat politician in particular.
     
  3. rdean
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    rdean rddean

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    I agree. One way to "solve" the problem is to become a Democrat and elect more Democrats.

    Not every Democrat will be perfect, but every Republican will be rotten for office.

    They're not bad people, but It's their bankrupt policies that are so bad.
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    You're not at all too bright, are you?
     
  5. Baruch Menachem
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    Baruch Menachem '

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    #3 was not voluntary. It was government mandated. Or so the banks believed

    You really need to read up more on this We have been budnling the securities since the 1960s that I am aware of from working temp at a business that did it.

    The big problem was the lack of controll over Fannie and Freddie, and the mandates.

    Insurance of what you own is just good practice. The government requires insurance on all kinds of stuff. We just passed a law that requires you to buy health insurance
     
  6. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    Buy a Toyota. When you wreck it, swear the brakes and the steering are defective and then sue.
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    Like I said...He's not at all too bright.
     
  8. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    I'm so bright that my father used to call me sun.
     
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  9. rdean
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    rdean rddean

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    "I" need to read up on it????

    Why do think the government, including many Republicans I might add, want to rein in Wall Street? Where is the mention of Freddie/Fannie?

    Freddie/Fannie used to issue more than 70% of all mortgages in the US. To get a mortgage from them, you had to have a job and prove that you could pay. With the Republican deregulation of Wall Street, that business moved to Wall Street where there were no such restrictions.

    The list I put together is how "derivatives" work. This is how "Wall Street" made money from "failure".

    The reason farmers want this taken out of the current bill is because this is how they insure their crops. Exactly the same process. But Wall Street used that system to take our economy to the cleaners.

    I'm curious. You guys keep saying I'm dumb and I don't know what I'm talking about.

    What do you think caused the economic collapse and why do they only talk about Wall Street and not "Freddie/Fannie"?

    I've backed up my assertions with links many times. So make sure you have links. I would be interested in what the Republicans say based on "evidence".
     
    Last edited: Apr 29, 2010

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