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Started By
Message
SO where did the money go?
Posted on 9/19/08 at 5:19 pm
Posted on 9/19/08 at 5:19 pm
Who actually made money in this whole fricken' mess. It had to end somewhere, correct? Perhaps money is really a mirge.
5
Posted on 9/19/08 at 5:21 pm to Beachtiger
quote:
Who actually made money in this whole fricken' mess. It had to end somewhere, correct? Perhaps money is really a mirge.
China's making a killing off of interest payments.
Posted on 9/19/08 at 10:25 pm to baytiger
Short Sellers.
Posted on 9/20/08 at 2:10 am to Beachtiger
quote:
Who actually made money in this whole fricken' mess.
The lobbyists.
Posted on 9/20/08 at 12:53 pm to Beachtiger
The money went here:
1- Consumers who refinanced and "cashed out" money on overinflated home prices,
2- Speculators who "flipped" properties, buying new homes/condos during their construction and selling them for $50k-$150k more when they were finished,
3- Mortgage companies that wrote these loans and sold them to the idiots willing to look the other way because they could resell the shite paper to other idiots,
4- The mortgage banking / investment companies that bought the shite paper from the mortgage "origination" companies (#3 above) who in turn repackaged the shite paper in tranches and sold it to large institutional investors and overseas buyers,
5- And finally, the loan officers and managers that made shiteloads of money originating this crap.
In other words, the consumer and the banker screwed themselves in the end.
1- Consumers who refinanced and "cashed out" money on overinflated home prices,
2- Speculators who "flipped" properties, buying new homes/condos during their construction and selling them for $50k-$150k more when they were finished,
3- Mortgage companies that wrote these loans and sold them to the idiots willing to look the other way because they could resell the shite paper to other idiots,
4- The mortgage banking / investment companies that bought the shite paper from the mortgage "origination" companies (#3 above) who in turn repackaged the shite paper in tranches and sold it to large institutional investors and overseas buyers,
5- And finally, the loan officers and managers that made shiteloads of money originating this crap.
In other words, the consumer and the banker screwed themselves in the end.
Posted on 9/20/08 at 12:55 pm to Beachtiger
People who sold homes at very high values before the crash. That includes homeowners who bought early (and cheap), and homebuilders.
You know what, with all the talk about taxing oil companies' "windfall profits" maybe we should tax all those evil individual homeowners who speculated in real estate, got out in time, and made a killing?
Just sayin'
You know what, with all the talk about taxing oil companies' "windfall profits" maybe we should tax all those evil individual homeowners who speculated in real estate, got out in time, and made a killing?
Just sayin'
Posted on 9/20/08 at 1:37 pm to Beachtiger
believe it or not, most just disappeared.
Posted on 9/20/08 at 1:42 pm to MileHigh
quote:
believe it or not, most just disappeared.
Like Kaiser Soze, poof. It's gone.
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