2007-12-18 06:11:42 · 12 answers · asked by Anonymous in Politics & Government ➔ Politics
actually many make money off of huge origination fees and sell the mgts on the open market some of the investors were hedge funds and investment banks, Goldman Sachs sold them to their customers and sold the index on the futures market. Goldman made a fortune, Bear Sterns lost a fortune Goldman's clients lost a fortune merryl lynch lost big and looking for a buyer
2007-12-18 06:29:04 · update #1
Step one:
Make bad loans.
Step two:
Lose all your money.
Step three:
File for bankruptcy.
Step four:
Never work a finance job again. Get those dishwashing hands ready!
Really people, companies that made bad loans folded, not made money. The houses they had as collateral had zero equity. That is, they were worth less than the original loan amount. There isn't any way to make money off that.
2007-12-18 06:19:25 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Well, you have to admit that President Bush's philosophy that everyone should be able to purchase a house is what got all this started in the first place. Until someone is willing to step up and have the courage to say that people shouldn't borrow what they can't afford to pay back, nothing is going to help. All these bandaids that are being put on the problem right now are only digging us in deeper an deeper. It's a domino effect that's going to be left to the next administration.
2016-05-24 22:09:22 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You assume everyone lost money. That is not true.
REITS made a fortune for people who sold them before they crashed. Vanguard REITS were making 30% per year.
2007-12-18 06:31:28 · answer #3 · answered by a bush family member 7 · 2⤊ 0⤋
Simply make a very large deposit to acct #7777777777; wire code 666; Geneva, Switzerland. You may predat on me all you wish!
2007-12-18 06:36:32 · answer #4 · answered by golfer7 5 · 2⤊ 0⤋
Become a loan shark. No taxes, no oversight...very high interest rates...no application fee or licenses required.
2007-12-18 06:18:04 · answer #5 · answered by Erinyes 6 · 2⤊ 0⤋
First, befriend a politician.
Second, go back in time and sell mortgages in Ohio.
Third, support your local lawyers.
Fourth, hire a bunch of telemarketers and used car salesman.
Fifth, sell your soul (don't expect much of a return).
Oh, you also need to be white and a republican. If you can lie without any sort of twinge in your conscience, you are golden.
2007-12-18 06:17:16 · answer #6 · answered by The J Man 5 · 2⤊ 3⤋
Run an ad promising free money. That's what they do around here.
2007-12-18 06:15:37 · answer #7 · answered by ? 7 · 4⤊ 0⤋
I just filed three complaints against a predatory credit card company via the BBB, Attorney General, and the FDIC. The company increased my Master Card APR to 29.74% . I am going to have my attorney contact them as well. So please don't start one. lol
2007-12-18 06:14:41 · answer #8 · answered by Chi Guy 5 · 1⤊ 2⤋
Have enough money to risk ,convince people to borrow from you and the biggy,have no ethics.
2007-12-18 06:17:20 · answer #9 · answered by Anonymous · 3⤊ 0⤋
Join the Mafia
2007-12-18 07:45:00 · answer #10 · answered by Anonymous · 2⤊ 0⤋