09-21-2008, 10:38 AM
|
|
CC Member
|
|
|
Join Date: Sep 2008
Cobra Make, Engine:
Posts: 1,120
|
|
Not Ranked
In 1971, I bought a house south of San Fransisco for $47900. [2600 sf]. Sold it in 84 for $255,000. I was out in Ca in 2004, went past the house, it was on the market again for $1,200,000. My son [a former cobra owner] bought one in the mid 90's for $395,000. [slightly larger in San Jose] about a week before the bottom dropped out he sold it for $1,400,000. Both excellent deals for us, but the houses were grossly over inflated in price. There had to be a correction at some point. But throw sub-prime mortgages into that mix and its a disaster instead of a correction.
In the market bailout, I want to see a brigade of top to near-top management arrested, prosecuted and their monies confiscated. Just like drug dealers are. They didn't create $50 and $100 million dollar paychecks out of corporate LOSSES without breaking SOME laws. The Enron scammers were prosecuted, why should this crop of liars and thieves get a pass? A whole lot of them in prison with a cellmate named Ben Dover would make for some record lap times in the clean up of the system.
Dan
Last edited by Dan40; 09-21-2008 at 10:41 AM..
|
Threaded Mode
