KittenKoder
Senior Member
Well ... if the people are so smart then why don't they just boot them out?
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Well ... if the people are so smart then why don't they just boot them out?
They didn't walk away with very much money or everyone wouldn.tbe going broke that has anything to do with the Mortgage industry. Even if you were correct that isn't a Ponzi scheme. It's more of a bait and switch at least get your scams correct if nothing else.
The derivatives were overpriced. Why were they over priced?
They didn't walk away with very much money or everyone wouldn.tbe going broke that has anything to do with the Mortgage industry. Even if you were correct that isn't a Ponzi scheme. It's more of a bait and switch at least get your scams correct if nothing else.
The derivatives were overpriced. Why were they over priced? because the housing market had reached a critical mass in which too many houses cost too much more than anyone not making near a six figure income could afford to pay for them. So your democrat congress chose to delay this by forcing the mortgage companys to loan money to people who couldn't afford them and preventing the Mortgage companies from being able to cover their butts in the usual way by charging a high premium for such mortgages a lot -well 7% - of these properties began to defualt about the time the owner found out that he couldn't pay his mortgage and keep the utilities on and buy the gas to get to and from work every day simultaneously to say nothing of necessary maintenance of said home why forclosure usually costs the mortgage holder upwards of seventy k along with legal expeses.
They didn't walk away with very much money or everyone wouldn.tbe going broke that has anything to do with the Mortgage industry. Even if you were correct that isn't a Ponzi scheme. It's more of a bait and switch at least get your scams correct if nothing else.
The derivatives were overpriced. Why were they over priced? because the housing market had reached a critical mass in which too many houses cost too much more than anyone not making near a six figure income could afford to pay for them. So your democrat congress chose to delay this by forcing the mortgage companys to loan money to people who couldn't afford them and preventing the Mortgage companies from being able to cover their butts in the usual way by charging a high premium for such mortgages a lot -well 7% - of these properties began to defualt about the time the owner found out that he couldn't pay his mortgage and keep the utilities on and buy the gas to get to and from work every day simultaneously to say nothing of necessary maintenance of said home why forclosure usually costs the mortgage holder upwards of seventy k along with legal expeses.
OMG, that is funny!!!
"They didn't walk away with very much money."
At one point the top 26 hedge fund managers were averaging $877 million dollars a year in income.
And only a small percentage of mortgages are in foreclosure, so it was not the housing industry, it was the derivatives. Did you even read the article I posted?
They build a $519 TRILLION DOLLAR BUBBLE.
It was a scam. Warren Buffet recognized it 6 years ago.
Derivatives are the new ticking time bomb - MarketWatch
So did FDR. Its rather hard to tell people not to run ponzi sceams when people are irresponsible with their money and the government is doing the same exact thing.
So did FDR. Its rather hard to tell people not to run ponzi sceams when people are irresponsible with their money and the government is doing the same exact thing.
Bullshit.
So did FDR. Its rather hard to tell people not to run ponzi sceams when people are irresponsible with their money and the government is doing the same exact thing.
Bullshit.
that's the kind of nuanced response we've come to expect from you chrissy.
couldn't find a picture?
that's the kind of nuanced response we've come to expect from you chrissy.
couldn't find a picture?
A poster like yourself who only posts insults is kind of pathetic, don't you think?
what insult was that, gerbil smuggler?
We're informed that the number of PONZI investment firms that we can expect to hear about in the near future is going to be rather large.
In Capitalism, if it is going to work well, investment firms needs to be transparent to the investor.
This economic meltdown we're having right now wouold NOT have occurred at all (no matter what the FED or fannie and freddie or the government did( IF the BONDS RATINGS AGENCIES had done their jobs of accurately accessing risk HONESTLY.
Had they done their jobs honestly, those bonds, which became the meat of the derivatives industry, could never have been sold at the prices they were sold.
Had they been accurately assessed, the banks would not be insolvent, and the government wouldn't be trying to figure out how to save the bond holders by giving TRILLIONS to the banks.
I know a lot of you truyly want to put the entire blame on the back of the government, but had CAPITALISM done its job properly, this would never have happened.
editec, these hedge fund managers are smart.
They knew the mathematics of derivatives.
They knew it was a scam.
Hopefully, some of them will go to jail, but probably most won't.