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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ChanceIs who wrote (224723)	10/14/2009 9:58:58 AM
From: Skeeter Bug	Read Replies (1) of 306849

>>That is certainly true. And what a shame it is we only hear empty talk about reforms but no bankers being thrown in jail. It is clear in my mind that we can save a bank w/o saving its senior management.<< we can save america without saving the banks' gambling losses, too. the money given to government sachs basically went into 1Q's worth of bonuses. well, the above board money - who know how many trillions they got behind the scenes. >>As far as individuals taking out loans they can't afford, all I can say .... "is how many noses do I have to wipe?" Is there no individual responsibility anymore?? I am paying for public schools, are the students learning nothing??<< what about the bankers that knew these people couldn't afford the loan, made them anyway and then conspired to get their rating vastly inflated and sell them on the open market? i always wondered why they never taught personal finance in public school - the bankers get rich off of stupid consumers. >>This all reminds me of Jon Krakauer's book..."Into Thin Air" ... about climbing Mt Everest. He was an experienced climber. It had become fashionable for amateurs to get their kicks by being taken up the mountain, and profitable guides to take the couch potatoes to the top. It they don't make it... "summit" ... then the guide doesn't get a good reputation. So there Krakauer stands at base camp, and one of the newbies from a different group comes over to him with a box under his arm. Krakauer says, "What's in the box." The tourist says.."My new climbing boots." Krakauer says.."Ever worn em before." Tourist says.."No, opening the box for the first time." Krakauer thinks..."F&%k. We are leaving for the summit tomorrow. There will be a complete idiot and fool on the mountain and odds are greater than 50% that I am going to have to carry his sorry, half-dead ass down .... if he doesn't somehow manage to kill me in the process" I think he tried to get his group up the mountain before the idiot's group. There was some sort of weather delay and they ended going up the same day. A couple tourists died along with a few of the guides. Great book. If I didn't make my point, I have no desire to be on the mountain (in an economy) with a bunch of incompetent climbers with never broken in boots (ignorant beyond words homebuyers) so that they can get their summit trophy (McMansion) and the guides (banksters and politicians) can get rich helping the people kill themselves so I can get killed with them or carry the bodies down the hill (pay 80% of my income for the rest of my life in taxes).<< it's even worse - once you hit the summit the guides pull out their hunting knife and fillet you.

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