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| Re: Obama administration proposing federal oversight of subways and light rail (861417) | |||
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Re: Obama administration proposing federal oversight of subways and light rail |
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Posted by Broadway Lion on Thu Nov 19 20:41:40 2009, in response to Re: Obama administration proposing federal oversight of subways and light rail, posted by Jackson Park B Train on Thu Nov 19 19:56:09 2009. Madoff is a convicted criminal. But the people he bilked were looking for profits and lost their shirts. If people do not know what they are doing with their money, this is their own problem. Look, this kind of fraud is the only thing that keeps Nigeria solvent.You *give* your money to someone who tells you will get it back with mucho interest you could be burned. And the people he burned should have known better. As for the housing bubble... the LION has seen for himself the beautiful restoration that occurred in Brooklyn. People received money from a bank. They hired other people to renovate homes. So far we have builders and owners who have made out from this deal. As long as they were paying back the bank they were ok. If gotcha rates were offered by the bank, then that is the subject for investigation and restoration. Mostly people are getting burned by second mortgages, and that is their own greed at work. Nonetheless, most houses cost MORE than their current resale value. It would be great if everybody could hold up their end of the mortgage until the value of the property is up. Many people have become rich in real estate, while others were broken. Now what of the banks? Did they loose money? No not hardly: they sold the debt to bigger banks who packaged these into sub-prime instruments, at attractive interest rates. These consolidators sold them to new "investors". These investors would have made big money if they worked, and they could loose big money if they failed. They Failed. Tough Darts Investor. THAT WAS YOUR RISK. ROAR |
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