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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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No one has summed up the disaster in the mortgage lending business better than Paul Muolo of “Broker Universe”:
“I'll put it bluntly: if you operate a non-depository mortgage firm and don't have a deep-pocketed parent or hedge fund as a sugar daddy you're likely to be out of business by year-end, probably sooner. In the 20-plus years that I've been covering residential finance I haven't seen a financial meltdown this swift since the S&L crisis of the mid-to-late 1980s. One subprime executive who closed his shop a few months ago told me, ‘This is a liquidity crunch the likes I have never seen.’ Meanwhile, the mudslide is rolling downhill from Wall Street to mortgage bankers, to loan brokers, and then the consumer.”
The reader may be ignorant (like me) concerning much of "HIGH FINANCE".
I am inclined to educate myself on principle and interest. That is as simple as it gets.
Principle
Interest
When the principle is to profit at the expense of other people, then, interest rates will rise to the occasion.
When the principle is to avoid profiting at anyone’s expense, then, there in no such thing as interest.
Someone making their living in “HIGH FINANCE” will look at the above and turn up their nose. They will look down upon me and imagine squashing me like a cock roach with their superior knowledge and intellect.
That is the nature of the principle where people have an interest in gaining at the expense of other people.
There are people, and many people, who embrace a principle called equity and their interest is in earning a good life while they are here on this planet earth.
I am going to link two expressions that contend (compete) with the “HIGH FINANCE” people who have an interest in gaining at the expense of you (or anyone less powerful) and their principle driving their interest is a secret. They are not giving up their secret.
No this fact. They are not giving up their secret. If they were giving up their secret, then, they would lose their principle and their interest.
Two links:
http://libertarian-labyrinth.org/warren/practicalapplications.pdf
http://quod.lib.umich.edu/cgi/t/text/pageviewer-idx?c=labadie;cc=labadie;idno=2916966.0001.001;size=l;frm=frameset;seq=2;view=image;page=root
I have to explain things to my wife at this time. If you do not read the two links, then, you will not gain the power contained in those words. You may not gain the power even if you do read those links.