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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (114654)	12/10/2015 9:46:54 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 217802

Elroy, the banks weren't victims. Nor was "the White House" a victim as the President didn't lose anything. One is not a victim when it's a self-inflicted wound. Bank shareholders should have known what they were doing. So should house buyers. It was obvious in 2005 and 2006 when I was considering buying a house in Escondido that they were about twice as expensive as they should have been. I looked at a few, thought "This is ridiculous, by a factor of 2" and decided to not buy. The banking system wasn't nearly wiped out. I was keen to buy a bank and thereby acquire a few thousand houses, maybe a million of them. But Barclays outbid me for Lehman Brothers, so I missed out. The government loaned $billions to others on easy terms so they didn't have to sell to me. My offer wouldn't have been good for the bank shareholders or bond holders who would have been wiped out. But I would have saved the banking system. Nor were house buyers victims. They, like me, had a look at houses in Escondido, but unlike me, decided to buy. Too bad for them and those who loaned them money. Mqurice