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  #41  
Old 11-27-2011, 10:03 AM
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jvanvliet jvanvliet is offline
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Ultimatly the guys who make their mortgage payments, keep their obligations & pay their taxes foot the bill. Where do you think all the "bail out" money is going to come from?

One way or another the working man is going to get the poop end of the stick. In the meantime the very rich, the politicians and the very poor, none of whom have a vested interest in the economy (because they don't suffer the consequences of bad decisions), will continue to do well while the guy who busts his donkey sees his standard of living go down the tubes.

Maybe I should go ahead and buy that dream King Ranch and default on the loan.

2012 Ford 350 King Ranch: $52,000

Letting you working guys pick up the tab: Priceless
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  #42  
Old 11-27-2011, 10:24 AM
GreenT GreenT is offline
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Quote:
Originally Posted by jvanvliet View Post
One way or another the working man is going to get the poop end of the stick.

And isn't that always the way it works out? The American way?

How many bankers and WS firms that sliced mortgages into a million slivers and put them in the gigantic derivatives blender to be sold as triple A investment have gone to jail? The same cabal that knowing the toxicity of the paper they were selling proceeded to buy/sell CDSs to protect themselves... The very same CDSs in the trillions that almost brought western capitalism to its knees...

The people that wiped out $15 trillion worth of wealth from America's middle class in the largest transfer of wealth the world has ever seen...

How many?

And the crowd goes.... Zero! Yay!

But don't get me started.... it's a nice weekend.

.
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  #43  
Old 11-27-2011, 10:45 AM
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Patriot Services Patriot Services is offline
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Sooooo......who's watching the Bucaneers today?
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  #44  
Old 11-27-2011, 10:56 AM
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Landscape Poet Landscape Poet is offline
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Originally Posted by fl-landscapes View Post
Mike, you know I like you so don't take this the wrong way. But you can put me in that "old school" thinker category. All our houses in Florida are de valued but for me I would never squat in a house rent free and treat my personal obligation like a business. For me the biggest problem with the economy and this country is that there aren't enough old school thinkers anymore. The walk away and let someone else suffer for our actions is what gets us into these messes. As a matter of fact even in business I wouldn't walk away from a deal just because it didnt turn out the way I intended it too. It would be a lesson learned and not repeated. You win some and you lose some.
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Not taken the long way. My post came off at the wrong manner maybe, but I think if you reread it, you will see I am one of those who think that you should honor your obiligations and that is why I am still making my payment. My issue is like you say, not many I feel have this since of obligation anymore, and are willing to do this. As more and more people see the negative effect their home has on their balance sheet, I suspect more and more houses will be dropped on the market, further down the drain we go as the inventory gets deeper and deeper.
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  #45  
Old 11-27-2011, 11:20 AM
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Keith Keith is offline
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Anyway, I hope everyone had a nice Thanksgiving Back to work tomorrow.
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  #46  
Old 11-27-2011, 04:42 PM
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jvanvliet jvanvliet is offline
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Quote:
Originally Posted by GreenT View Post
And isn't that always the way it works out? The American way?

The people that wiped out $15 trillion worth of wealth from America's middle class in the largest transfer of wealth the world has ever seen...

How many?

And the crowd goes.... Zero! Yay!

But don't get me started.... it's a nice weekend.

.
Don't forget to throw in the legislated relaxation of FNM & GNM standards that forced them to lend outside of base financial standards creating "don't ask don't tell" mortgages available to anyone without documentation. This caused a huge demand for capital creating an environment for WS to capitalize on the demand by creating derivitives and selling them to the public.

The public in turn, like a herd of lemmings, began a greedy drunken orgy of real estate speculation lying on their applications in order to secure mortgages on properties they had no intention of living in but selling to the next greedy sucker. It was all a monumental Daisy chain with legitimate homeowners getting screwed and the greedy geeting what they deserved.

But that's "not fair". So because all of these scumbags were lying greedy and selfish. Now the working man gets to pay for it
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  #47  
Old 11-27-2011, 06:53 PM
GreenT GreenT is offline
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Anyway, I hope everyone had a nice Thanksgiving Back to work tomorrow.

Same here.

.
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  #48  
Old 11-28-2011, 10:14 AM
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stickleylawncare stickleylawncare is offline
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Going away for a week and having to catch up on lawnsite is almost as bad as a full email inbox! Anyway, hope everyone had a great thanksgiving.... and Christmas is just around the corner.
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  #49  
Old 11-28-2011, 10:40 AM
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zturncutter zturncutter is online now
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I think I gained 5lbs over the weekend.
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  #50  
Old 11-28-2011, 11:20 AM
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Originally Posted by zturncutter View Post
I think I gained 5lbs over the weekend.


Thursday I gained 3 1/2 pounds that made me feel very uncomfortable. Friday Morning I ran it off.

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