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To: koan who wrote (32175)	10/23/2012 8:41:43 PM
From: alanrs	5 Recommendations Read Replies (1) \| Respond to of 85487

"It was the banks, insurance companies, and wall street, more than anyone, who were the criminals." The government insisted banks make unprofitable loans. Complying with the law and facing projected losses on these loans the banks bundle them with better quality loans. Once that little trick was in place the flood gates opened and everybody got into the act, rating agencies, politicians, on and on. It's more complicated than that, of course, and I'm sure books will be written. Another unintended consequences situation that ended up achieving the exact opposite of the stated goal (more people owning homes and prospering as a result). Everybody was complicit, many people were criminal, nobody has been charged with anything, not by this pres or the pres before him. Do-gooder government was the prime mover in this, and then the government made another contribution to the whole scam by not enforcing the regulations. That's why nobody is being charged with anything, if that were to start it would include the politicians so the politicians decline to pursue the matter. Government is stupid, too stupid to control or predict the cause and effect chain reactions it sets off. What little good it does seems to be mostly by accident and usually at the huge cost of some other great evil somewhere else in the system. Again oversimplifying, but not by much. End of rant. ARS

To: koan who wrote (32175)	10/23/2012 11:03:51 PM
From: Thehammer	2 Recommendations Read Replies (2) \| Respond to of 85487

I am in real estate. It was the banks, insurance companies, and wall street, more than anyone, who were the criminals. They cut the regulations for borrowing. No doc loans! AIG credit default swaps! Junk CDO's stamped triple AAA by Moodys! This is a highly simplistic answer and is part of the problem but there are an number of other contributory causes such as the Community Reinvestment Act. Acorn with such co-conspirators such as BO threatened lawsuits against the major banks for redlining. Fannie and Freddie were buying the mortgages and Bush tried to get congressional action on multiple occasions. Last of all we had a classic bubble in housing caused by over zealous buyers, speculators, flippers etc. It was the real estate industry that was convincing buyers that they could afford more house than realistic and some of the agents were more interested in their commission than getting a client affordable housing. When the bubble burst it caused a banking and credit crisis. BTW _ I worked on the securities side at one of the largest banks in the country and one of the largest in mortgage loan origination. I can tell you one thing - the bank side loves REGULATION. Because of their size, and the fact that they have scale and droves of attorneys, they believe it gives them a competitive advantage and will eliminate many of the smaller and mid size banks.

To: koan who wrote (32175)	10/24/2012 7:38:46 AM
From: Brumar89	1 Recommendation Read Replies (2) \| Respond to of 85487

Did you ever tell a potential home buyer he just couldn't afford the house he wanted to buy? Were there mortgage brokers or lenders you refused to refer people to?

To: koan who wrote (32175)	10/24/2012 1:14:13 PM
From: average joe	3 Recommendations Respond to of 85487

Yes Koan you're a shrewd investor and probably bankrupt... I'm not surprised you would advise people as you are an expert on every topic under the sun from Socrates to poker to Saskatchewan coal. OT: I make most of my money as a Canadain resource stock trader (30 years). There is a huge coal area play rush taking place in Sask. GXS has gone from .16 to almost $20 today in just a few weeks. Many juniors are smoking SMI is my favorite .72 , but many are smoking. If you go to the ride the tiger thread on SI you can read about the plays. It looks like they may have discovered trillions of dollars of coal in the area: Message 24686058 Koan lost his A$$ on GXS as did and was relying on inside tips that it was a high grade coal play and they could bet the farm and make money. Koan did not have much to say about the cease trade order below. The GXS coal play consists of low grade geothermal coal covered by 300 feet of over-burden. GXS based part of their reserves on a new designation they invented called speculative resources. In the meantime speculative speculators like Koan lined up to have their pockets picked clean. Barnum and Bailey had special ring side seating for people like Koan. Goldsource Addresses BCSC Cease Trade Order VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2012) - As a result of a review by the British Columbia Securities Commission (the "BCSC") and issuance of a cease trade order ("CTO") on March 1, 2012, Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE:GXS)(FRANKFURT:G5M) is issuing the following news release to clarify certain aspects of the resources disclosure contained in an independent Technical Report (the "Report") that it filed on March 15, 2011. The Report also contains a Preliminary Economic Assessment ("PEA") of its Border Coal Project located in Saskatchewan that the Company announced on February 28, 2011. Use of Non-Compliant Resource Categories The BCSC issued the CTO on the basis that the Report (and subsequent disclosure documents) were not in the required form because they disclose coal resources in a "Speculative" category that is not permitted under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). In its Report, Goldsource disclosed Speculative coal resources in addition to Indicated and Inferred coal resources based on the guidelines provided in Paper 88-21 of the Geological Survey of Canada: "A Standardized Coal Resource/Reserve Reporting System for Canada"("Paper 88-21"). This disclosure of Speculative Resources was in error as the Companion Policy to NI 43-101, while allowing Paper 88-21 to be used as guidelines for disclosure of coal resources and reserves, requires usage of the Mineral Resource and Mineral Reserve categories set out in the CIM Definition Standards, which do not provide for a Speculative Resource category for coal. The NI 43-101 compliant mineral resources at the Border Coal Project are comprised of indicated mineral resources of 79,161,000 tonnes of coal and inferred mineral resources of 33,003,000 tonnes of coal ranking between Sub-bituminous C and Lignite A. The Company confirms that Speculative coal resources were not included in the resource base utilized for the PEA contained in the Report and the results of the economic analysis for the Border Coal Project remain unchanged. The Company cautions that mineral resources that are not mineral reserves do not have demonstrated economic viability. The disclosure of Speculative coal resources has occurred in the following continuous disclosure documents filed or issued by the Company: news release and material change report dated February 28, 2011; news releases dated March 17, March 30, September 1, November 4 and December 12, 2011 and February 1, 2012; annual information form ("AIF") dated February 16, 2011; the management's discussion and analysis ("MD&A") for Q1, Q2 and Q3, 2011. The Company wishes to retract references to Speculative coal resources in these documents and it has removed all reference to Speculative coal resources on the Company's website and from the Company's presentations and investor relations materials. Goldsource has undertaken with the BCSC to do the following by not later than March 16, 2012: file a NI 43-101 fully compliant amended Technical Report for the Border Coal Project, removing all disclosure of Speculative coal resources; file an amended material change report, an amended and restated annual information form and amended management's discussion and analysis for Q1, Q2 and Q3 of 2011, removing all disclosures of Speculative coal resources. Other Technical Disclosure Issues The Company's news release of July 11, 2011 and its June 2011 corporate presentation on the Company's website added the prohibited Speculative class, as well as the Inferred class of mineral resources to Indicated mineral resources, contrary to NI 43-101. The Company wishes to retract the addition of these classes of resources to Indicated resources and has removed the corporate presentation from its website. The Company's corporate presentation of June 2011 discloses the results of the PEA but did not include the cautionary language required by section 2.3(3) of NI 43-101. The Company wishes to correct this disclosure and cautions that a PEA is preliminary in nature and includes Inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. This corporate presentation has been removed from the Company's website. The Company is also in the process of completing a NI 43-101 compliant Technical Report updating its revised coal resources based on the 2011 drill program. This is anticipated to be completed and filed by March 19, 2012. Lara Reggin, P.Geo., Engineering Geologist and Project Director, EBA Engineering Consultants Ltd., Mohammed Dadmanesh, P.Eng., Mining Engineer, Silver Wheaton Corp. (formerly Mining Engineer of EBA Engineering Consultants Ltd.) and James McQuaid P.Eng., Senior Mining Consultant, Golder Associates Ltd. (formerly Mining Engineer and Vice President of Marston Canada Ltd.) are the Qualified Persons for this news release and have reviewed and approved its contents. Goldsource Mines Inc. is a Canadian resource company engaged in the exploration and development of Canada's newest coal field in the province of Saskatchewan. The Company has discovered 17 coal deposits of varying size with coal zone thicknesses up to 126 meters in this new thermal coal field that lies within the permit area of the Border Coal Project. Headquartered in Vancouver, BC, the Company is managed by experienced mining and business professionals. This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of coal permits and mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in commodity product prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. J. Scott Drever, President GOLDSOURCE MINES INC. Neither the TSX-Venture Exchange nor its Regulation Services Provider accepts responsibility for the accuracy or adequacy of this release.