Untold Wealth: The Rise of the Super Rich

[Chris]

I recommend this video to everyone, it you want to know what is wrong with our society....

Untold Wealth: The Rise of The Super Rich - CNBC.com

 

[garyd]

Why? there isn't enough jealousy and envy around already?

There have always been super rich. The only things that have changed is the Yardstick by which wealth was measured.

 

[Chris]

Because it outlines how billions of dollars were stolen from hard working Americans by hedge fund managers.

 

[PoliticalChic]

I recommend this video to everyone, it you want to know what is wrong with our society....

Untold Wealth: The Rise of The Super Rich - CNBC.com

I can't understand folks like you. Did you notice the dramatic increase in the number of billionaires? Do you know that very few of the wealthy inherited their wealth, unless their names were Kennedy.

First of all, how do those who are wealty hurt you? Second, this country allows all of us the opportunity to become those wealthy. Just speak to immigrants.

What's your beef?

 

[garyd]

Unless you invested in a hedge fund no one stole crap from you.

 

[Chris]

I recommend this video to everyone, it you want to know what is wrong with our society....

Untold Wealth: The Rise of The Super Rich - CNBC.com

I can't understand folks like you. Did you notice the dramatic increase in the number of billionaires? Do you know that very few of the wealthy inherited their wealth, unless their names were Kennedy.

First of all, how do those who are wealty hurt you? Second, this country allows all of us the opportunity to become those wealthy. Just speak to immigrants.

What's your beef?

Have you been living in a cave the last 6 months?

Are you really this ignorant?

The hedge fund managers on Wall Street ran a Ponzi scheme called derivatives and stole billions and billions of dollars from hard working Americans and bankrupted America...

Derivatives are the new ticking time bomb - MarketWatch

 

[garyd]

Derivitives aren't a ponzi scheme you idiot and the hedge fund managers got hammered. We've got a problem with over valued derivatives. That is a result of the problem of wildly skewed housing market.

 

[Alpha1]

Dude is under the delusion that con men only steal from large numbers of people that don't have any money rather than one very rich guy that has millions and millions....???

Does that make sense to you ?

 

[Chris]

Derivitives aren't a ponzi scheme you idiot and the hedge fund managers got hammered. We've got a problem with over valued derivatives. That is a result of the problem of wildly skewed housing market.

You didn't read the article did you?

At one point the derivative bubble was $519 TRILLION DOLLARS.

That's not a misprint.

The total GDP of all the countries in the world is only $50 trillion dollars.

It was clearly a Ponzi scheme, and they knew it.

 

[garyd]

Evidently you have no clue what a Ponzi scheme is.

 

[Chris]

Evidently you have no clue what a Ponzi scheme is.

I know exactly what a Ponzi scheme is, and running a bubble with leverage that you know will ultimately fail is a de facto Ponzi scheme.

And when the music stopped, they walked away with the money, and then asked for a bailout and gave themselves bonuses.

It's unbelievable.

 

[garyd]

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.

 

[DiveCon]

Evidently you have no clue what a Ponzi scheme is.

I know exactly what a Ponzi scheme is, and running a bubble with leverage that you know will ultimately fail is a de facto Ponzi scheme.

And when the music stopped, they walked away with the money, and then asked for a bailout and gave themselves bonuses.

It's unbelievable.

another FAIL by chris

Ponzi scheme - Wikipedia, the free encyclopedia

 

[elvis]

Evidently you have no clue what a Ponzi scheme is.

I know exactly what a Ponzi scheme is, and running a bubble with leverage that you know will ultimately fail is a de facto Ponzi scheme.

And when the music stopped, they walked away with the money, and then asked for a bailout and gave themselves bonuses.

It's unbelievable.

another FAIL by chris

Ponzi scheme - Wikipedia, the free encyclopedia

actually it doesn't appear to me he gave ANY definition of ponzi.

 

[elvis]

Ponzi is an illegal pyramid.

 

[DiveCon]

I know exactly what a Ponzi scheme is, and running a bubble with leverage that you know will ultimately fail is a de facto Ponzi scheme.

And when the music stopped, they walked away with the money, and then asked for a bailout and gave themselves bonuses.

It's unbelievable.

another FAIL by chris

Ponzi scheme - Wikipedia, the free encyclopedia

actually it doesn't appear to me he gave ANY definition of ponzi.

exactly, he failed

 

[Diuretic]

Madoff (spelling?) allegedly ran a Ponzi scheme didn't he?

 

[elvis]

Madoff (spelling?) allegedly ran a Ponzi scheme didn't he?

Yeah.

 

[KittenKoder]

The problem with schemes ... people fall for them. Sorry, but even I can't blame the ones who make a fortune off these. Here's the rule that works for that: If it's too good to be true, it probably is.

The fact that people who fall for scams are so eager to hand their money over without ever looking into where they are placing it is just .. well stupid. I know very little about investment and such but even I know you have to dig deep sometimes, and these Ponzi schemes are just too damned easy to see through.

 

[elvis]

Look at even a company like Amway. Somthing like only 10 percent of people involved in it make money. Most of the product sits in people's garages because the people can't sell it. They get into churches and pollute them with this Amway religion.