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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?


To: SilentZ who wrote (577387)7/22/2010 1:47:36 PM
From: Jim McMannis  Read Replies (1) | Respond to of 1584441
 
RE:"The people who sold it to us should have to pay to fix it."

What do you want, make wall street take a pay cut?
You can start by getting Franklin Raines and Jamie Gorelick to give back their $130M.



To: SilentZ who wrote (577387)7/22/2010 3:16:57 PM
From: Tenchusatsu  Read Replies (2) | Respond to of 1584441
 
SilentZ, I agree with everything you said, except the last part.

We were indeed sold a bill of goods. The government, the banks, the mortgage companies, and the media were all a part of it. And so were we. Why? Because we were greedy, and we trusted those supposedly smarter than us that nothing could go wrong.

Kind of scary when even real estate can be a sucker's bet. Or that the banks didn't know what they were doing when they packaged the mortgages into derivatives and plugged it all into computer models.

Like you said, these are supposed to be the smartest people in the world. Now what? You want them to pay for it? Fat chance. Besides, we're all responsible. Remember, we're a "fucking society" and we're all in this together.

Or maybe you'd rather trust another bunch of "smart" people who say, "We're from the government, and we're here to help. I went to Columbia undergrad and Harvard for law school, so I obviously know what I'm doing." Scary, scary stuff.

Tenchusatsu



To: SilentZ who wrote (577387)7/22/2010 3:23:57 PM
From: tejek  Respond to of 1584441
 
A very wealthy mentor of mine told me, who went to business school at Wharton, about six months before the bubble burst that his very wealthy and successful father told him when he was younger that real estate is always a safe investment. I didn't buy it.

It is generally true but with caveats. It depends on the location and may not be in the short term.