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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 396.28

-0.7%

Dec 31 4:00 PM EST

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To: Ilaine who wrote (31700)	3/27/2008 11:28:53 PM
From: Ilaine	Read Replies (2) of 218871

Speak to me of due diligence. Assume, for the sake of the argument, something that is patently untrue. Assume that an actual human being in the underwriting department was asked the following questions: 1) Do you believe that a couple from Bolivia earns $10,000 a month cleaning houses? 2) Do you believe that a policeman earns $20,000 a month regular salary? 3) Do you believe that a house that sold for $400,000 in June is worth $1 million in July? Especially when all the other houses in the neighborhood are still worth in the range of $400,000 and nothing has changed otherwise? 4) Do you believe that a free lance loan broker who works strictly on commission will always tell the truth? Now here is a question for the investor: If you didn't do the due diligence to see if the investment was on the up-and-up, why are you complaining now? Do you think a judge would do anything but laugh at you? Caveat emptor. Buy heparin from China, too bad for you. Buy mortgage backed securities from Bear Stearns, well, at least you won't die.

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