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People always were prevented from getting too much house, at least until the trial run of the S and L crisis and the main event, the housing crisis and crash of 2001-2007. Underwriting is essential to the proper functioning of a bank. But the banks didn't care. The scam was on and they wanted any warm body, like the homeless guy in Florida who "owned" 4 properties. It was all about the fees and the passing on of crap loans to unsuspecting investors.
Hey, look, we found some common ground!
tatupu70
2011 Nov 28, 8:36am
Increasingly more investors are recruited to pay the first group of investors.
That's where it fails the test. You don't need increasingly more people to fund SS.
JodyChunder
2011 Nov 28, 9:31am
stem, including $billions lost to Obama Campaign Donors... & TRILLIONS TO BE PAID BACK BY OUR GRAND & GREAT GRAND CHILDREN! WTF!
>>
PS:Resume= 700+ Escrows, 114+ Court cases, 13,000 acres bought & sold, $100m bought & sold, 5 passports filled traveling, 4x/wo
you blowin smoke bub
JodyChunder
2011 Nov 28, 9:32am
NOT, when the IRS get done with there ass, they will feel like they were gang raped.
will never happen.. you seem to miss that these folk are what keeping the fragile economy on its hind legs
JodyChunder
2011 Nov 28, 9:33am
That's where it fails the test. You don't need increasingly more people to fund SS.
sorry but yes of course you do. it is a trust and it does make a small profit but you need more people coming in to the thing always
tatupu70
2011 Nov 28, 10:19am
That's where it fails the test. You don't need increasingly more people to fund SS.
sorry but yes of course you do. it is a trust and it does make a small profit but you need more people coming in to the thing always
Um, sorry, but you don't. With a stable population and a proper accounting for life spans, it can be self sustaining forever. It most definitely does NOT need an increasing population.
Um, sorry, but you don't. With a stable population and a proper accounting for life spans, it can be self sustaining forever. It most definitely does NOT need an increasing population.
Precisely. Many of our government agencies, from the federal down to the city/local level, were abused by politicians who took funds from them, then approved phony balonie accounting measures to cover it up. This was all done intentionally, not only to gain immidiate cash for personal projects or cronies, but also to make sure it appeared as if 'big government' had failed. Americans should always be sceptical and demand accountability from their government, but Social Security is one of the examples where government succeeds better than the private sector. That is why they spread the falsehood that Social Security is a Ponzi scheme or that it's broke already. That is why the post office has to deal with special regulations that force it to operate at a loss. The mirage that the private sector ALWAYS does EVERYTHING better than the public has to be upheld, even if you have to sabotage the government agencies that function well to do it.
zzyzzx
2011 Nov 28, 11:55am
Debtor's prison? Piffle.
I'd be OK with that, but I was really thinking more along the lines of ruined credit for life.
JodyChunder
2011 Nov 28, 1:19pm
m, sorry, but you don't. With a stable population and a proper accounting for life spans, it can be self sustaining forever. It most definitely does NOT need an increasing population.
yes I think your slipping ; D just for starters you got mor e bayboomers retiring then what there is of younger generation to put them up. also our goverment keeps raiding the funds. read up
JodyChunder
2011 Nov 28, 1:22pm
yes one of my people worked at the SOCIAL SECURITY ADMINISTRATION OFFICE for 40 year. I get my stuff from him
well how many of you would call Donald Trump a deadbeat?
because thats exactly what he has done. and continues to advise people to do if underwater. walk away or stay and squat it out.
Its a "business decision" he calls it
Because hes rich, and perpetrates all kinds of unethical business schemes, hes not a deadbeat, but a "winner"
tatupu70
2011 Nov 28, 8:21pm
m, sorry, but you don't. With a stable population and a proper accounting for life spans, it can be self sustaining forever. It most definitely does NOT need an increasing population.
yes I think your slipping ; D just for starters you got mor e bayboomers retiring then what there is of younger generation to put them up. also our goverment keeps raiding the funds. read up
OK--I think you are just trolling. No need to continue this discussion....
JodyChunder
2011 Nov 29, 11:18am
OK--I think you are just trolling. No need to continue this discussion....
If i am a troll you are a little squirrel. fair?
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I heard a lot about them, but personally never seen one, till today.
It turns out to be... a family I knew is one of them. They're nice people, never thought they're one of them. They bought 800K home w/ very small downpayment, Right after they bought the home, they took a loan against it, openned coffee shop businese. The businese was not successful, so they decided to get the hell out of both business and the house. Right now, they're living 2 years without paying mortgage. Foreclosed, but you know, it is like taking forever.
Something that made me feel uncomfortable is that, they look so happy. They even talking about how much free money they've saved during those two years. It already is six figures.
Oh, man. That's how to get 100K using only 10K. Yeah, way to go.
#housing