With $25,000,000,000 say good bye to ramen packets by the dozen. I can afford eating at a nice restaurant for 2,853,881 years. But of course no one lives that long! So why not pursue a better education. With $25 billion I can attend an expensive private college for 277,777 years. Maybe I could run for politics. But wait, I can't do that because I'm not that good at lying. I know! I could just engage in global conquest. It's not impossible as I could afford 6,250 M1A2 tanks! Maybe I'll get a discount for buying them in bulk.
According to Charles Duhigg (see ref 2) Fannie Mac was centered on the principle of buying housing loans and then repackaging them in bundles. Much like N64 bundle packs where you received an N64, two controllers, Banjoe Kazooe / Mario 64, and a rumble pack. Fannie Mae would then sell this "bundle pack of loans" to investors (usually foreign) who expected to make a profit with market trends on the faith that the loans would be paid back.
A more accurate assessment would be the fact that a "friend of your friend" offered to give you their "N64 Bundle Pack" on the condition that you pay up front. Your friend is the "middle man." You pay him first and trust that his friend really does have an N64 bundle pack that he's going to give you.
Up until 2004, Fannie Mae got their loans paid back in a fairly normal fashion. Then Fannie Mae's leadership changed and with it, one of Fannie Mae's "giant loan partners" threatened to leave if Fannie Mae didn't buy out their riskier debt. Which translates into riskier loaners.
Back to our N64 analogy we can compare this to your relationship with your friend. You've trusted him to get you the N64 you so dearly wanted and a bunch of other gaming consoles. Now the PS3 has come out, and your friend always operates in the same method. What you didn't know is that your friend has gotten into bad business and is now depending on drug-dealers and pimps for his video game resources. What happens is you don't get your PS3. None of the drug-dealers or pimps had the system at all. And now everyone is screwed because your friend just didn't know when to call it quits.
Instead of your friend being punished, he gets away scotch free. He has your money and hundreds of other people's money that he made transactions with. In the same theory, the federal government has decided that everyone should pay approximately $3,300 in taxes (value adjusted for middle-income wage makers) to compensate for a capitalistic fiasco.
Billionaire anyone?
Billionaire anyone?
Last edited by Sited on Fri Jan 30, 2009 6:45 pm, edited 1 time in total.
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anildewani
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RE: Billionaire anyone?
In my opinion, If you are an billionaire , First thing you should do is to develop yourself
but the second thing i demand to do is
Helping other poor peoples, who cant even get to eat food, who cant even wear good cloths.
one must try to get unemployed persons, employed by any means.
Thatz what i call humanity.!
but the second thing i demand to do is
Helping other poor peoples, who cant even get to eat food, who cant even wear good cloths.
one must try to get unemployed persons, employed by any means.
Thatz what i call humanity.!