700 BILLION DOLLAR BILL MUST READ

[helmut]

@Orbs
Thanx for the Update.
I had missinterpreted the "Billion"

Very usefull Answer.
Thanks

[vonwolf]

hey Hans;
  There is alot of blame to go around. These new "investors" were just plain greedy The Large Builders were greedy My Wifes former Employer was greedy. There was alot of that going on. There were also alot of foreign "investor" too. They got greedy too.
 The State forced the Wifes Bank to close down the Construction Loans so alot of smaller builders had to come up with money so everyone was mad at the state.in reality the bank was saved by this move. still have hope for our stock options ah well kinda anyway.
   Like I said it hurt watching the constructin industry die, we all saw it comming but it was done, over stick a fork in it. There all this land thats worth 5 mybe 6 thousand and all these moron investors snapped it up for anywhere beween $55,000 to over $100,000? Do the math someones going to have to take one hell of a bath before another stick of wood goes up to start any new home industry.
   This happened all over the country, people that have no idea what they were doing becoming instant land speculatrs and screwning everything up. There was alot of blame to go around, there should have been more oversite no doubt but these people just couldn't wait to hold each others hands and jumping of the cliff. It was a wild ride I just hope ahh err?? well I can't even think of a end to that sentance I think I'll just stand in the corner^^^^ wake me when it over
  Thaks for listening Pete

[Spewing]

What do you mean the money is missing? Speak english. Break it down for the stupid!

[hansvonlieven]

@ Spewing,

How do you think a 700 billion dollar shortfall can occur?

For this to happen 700 billion dollars had to go to someone in real cash. Cash that the banks had but that is no longer there. Assets that were on the books and no longer are. Now, they well may hold assets that they paid a million for, that are now only worth a hundred dollars, but someone must have got a very real million in the first place. These are the things you should be looking at.

Hans von Lieven

[vonwolf]

 It was like a huge piramid scam the ones that were luky enough or smart enough to get in and out fast made wads of Money. Obviously the large Real Estate firms raked it in big time The larger Devolopers made out like bandits The Banks made out and all the obviously corrupt assholes connected to them.
   Last but not least the Dumb ass Newvo land barons who bought 3 houses at $275,000, they were sold the idea that they could sell 2 and live in 1 for free and all with no money down oh boy, its so easy!!? well not relly so in the end every one walked away. and all the banks and Huge Developers were stuck with all this land they had on the books worth (keeping it simple) $298.000 average house but it really is worth half that.
   Then for some reason the bank decided to hold the country hostage just before the elections. O gee we have all this bad debt you have to save us? They have had that bad debt for over a year, the were still getting hudge bonuses but all of a sudden its a national emergency?
    Two months later and they all go to jail but ya this is much better, now they can do it all over again.and the still get those bonuses.