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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (76178)	4/18/2007 9:47:33 AM
From: Perspective	Respond to of 306849

There's a lesson in this that everyone should pay attention to. You may think you can rip off the public - even legally - but if you rip off too many people, you're liable to find yourself facing a lynch mob demanding that the rules be changed. It may have been legal, but if it's widely viewed as improper, We The People and their lawmakers may come after you. The wealthy minority in this country may think they can do whatever the hell they want to the people, but they should read the history books. Confiscatory tax rates are possible, and a return to them due to popular backlash and class warfare is likely. Class warfare has been going on for a long time now, it's just that it's been waged by the rich against the less-well-off. The poorer 90% are just starting to figure this out. They get their turn at bat soon. BC

To: ChanceIs who wrote (76178)	4/18/2007 9:50:38 AM
From: Perspective	Read Replies (2) \| Respond to of 306849

By the way, I don't want to see ANY tax money going to subprime, on either side of the transaction. However, I think the investors should share in the pain. Actually, they have to. If you foolishly loan money, you are going to lose it. And that's what they've done. The lending side of this has every bit as much culpability here IMO, and they're the ones that should know better. J6P doesn't do finance for a living - they just want a house, and 90% of them "trust the experts". As much as I hate to admit it, our society is completely dependent upon specialization of labor now, and that means financial knowledge is pretty much absent in most people. BC