tag:blogger.com,1999:blog-10291496.post8490016713491656714..comments2024-03-08T08:39:44.153-08:00Comments on Poof'n'Whiffs: Letter to Tara; Housing BoondoggleSamhttp://www.blogger.com/profile/06904821424581969401noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-10291496.post-10451857544226476952007-07-27T13:10:00.000-07:002007-07-27T13:10:00.000-07:00Hey Mike, I know you were in real estate but I thi...Hey Mike, I know you were in real estate but I think there's something up with these folks that flipped mortgages like hamburgers at a 4th of July party. It wasn't the developer, builder, seller, realtor, mortgage agent, or anybody like that. Large companies would buy risk! Hedge markets defined as being high risk, so they snapped up the high risk notes and combined them, bet for and against them, and made a ton of cash.<BR/><BR/>As you know, the broker house makes "two and twenty" off a hedge fund, which means two percent of the capital and 20 percent of the profits. Some of the fund managers aren't mere millionaires, they are billionaires. <BR/><BR/>I'm not sure about our Edwards boy here but you don't run a hedge fund on being nice to people. I mean, you pretty much screw everybody and because the capital is not raised on the open market - all are wealthy private investors with chunks of millions of bucks - there is no accountability. I mean come on, the hedge fund manager is taking 20 percent of the winnings off the top before the investor makes a dime, and could actually fall into the red (while the fund manager is STILL getting paid). Hey Mike, ever lose 5 billion in one day? How about in one hour?<BR/><BR/>I'm not sure where to go with this, other than if you were going to fund low-cost housing for poor people you might use some leveraged cash but not a freaking hedge fund. <BR/><BR/>That would be insane.<BR/>-sammieSamhttps://www.blogger.com/profile/06904821424581969401noreply@blogger.comtag:blogger.com,1999:blog-10291496.post-41960309249027728532007-07-27T12:33:00.000-07:002007-07-27T12:33:00.000-07:00I am sure she has already given the town at least ...I am sure she has already given the town at least her $1's worth.<BR/><BR/>Nuff said.........<BR/><BR/>Speaking of hedge funds in trouble...Look at Fortress Investment group.<BR/><BR/>This is the one John Edwards worked a few hours for to learn about the poor (that's "rich"). They are in financial trouble.<BR/><BR/>That is what happens when the "well intentioned" try to help the poor by screwing them with high rates and ARM loans, huh?<BR/><BR/>I am sure that as concerned about the poor as John Edwards is, he will give the millions he received from them to help salvage all of those loans in default.<BR/><BR/>It would be the right thing to do.......MLeahyhttps://www.blogger.com/profile/02690025246925858818noreply@blogger.comtag:blogger.com,1999:blog-10291496.post-56452578731597672682007-07-25T08:54:00.000-07:002007-07-25T08:54:00.000-07:00Glad we could communicate off-line. As I neglecte...Glad we could communicate off-line. As I neglected to say, my motivation is mainly one of being sick of the local politics. <BR/><BR/>I've talked to people who have lived here over 30 years and they say they have never seen it this bad.<BR/><BR/>It's not just me ...<BR/>samSamhttps://www.blogger.com/profile/06904821424581969401noreply@blogger.comtag:blogger.com,1999:blog-10291496.post-82377122037662541222007-07-25T05:44:00.000-07:002007-07-25T05:44:00.000-07:00Sammie oh Sammie - you are a quandary. Your “pot s...Sammie oh Sammie - you are a quandary. Your “pot shot” at the spiforum.org is unfair and misleading; as is your apology. <BR/><BR/>Asking BOA members to participate on the forum is not unrealistic, nor is it a violation of the Open Meetings Act. The OMA was designed to prevent a group of decision makers from meeting privately, not to prevent those decision makers from publicly expressing their opinion. If your interpretation were correct then politicians could never give a speech, nor correspond with constituents. <BR/><BR/>“Despicable” is a harsh description of the rhetoric found on the forum. Of course there will always be the ill-conceived comment, but overall the forum is a refreshing and honest exchange of ideas and opinions by a diverse group of participants. <BR/><BR/>Thank you for always keeping us on our toes - certainly a great place to put your "flip flops".mustlovespihttps://www.blogger.com/profile/06697906322208962196noreply@blogger.com