Did the first domino fall?

[chemmie]

Our current economic model is completely f*cked. It isn't "free" and it is barely a market. It is collusion of the ultra-wealthy, government, and the media. We're the wealthiest country in the world, and we have nothing to show for it. It sucks, and it isn't anywhere near as wonderful as some people want us to believe. It needs to be fixed.

 

[Crazyhole]

Our current economic model is completely f*cked. It isn't "free" and it is barely a market. It is collusion of the ultra-wealthy, government, and the media. We're the wealthiest country in the world, and we have nothing to show for it. It sucks, and it isn't anywhere near as wonderful as some people want us to believe. It needs to be fixed.

It's kinda messed up when a person can use a 2nd, 3rd, or 4th lien status holder and borrow against that asset. Then to claim the loan they received against that asset is income so they can borrow against what they then classify as "cashflow" is beyond fvcked up.

 

[Crazyhole]

It's kinda messed up when a person can use a 2nd, 3rd, or 4th lien status holder and borrow against that asset. Then to claim the loan they received against that asset is income so they can borrow against what they then classify as "cashflow" is beyond fvcked up.

Additionally, it's even more messed up that they can borrow that money at less than a 1% interest rate.

Basically under the best circumstances, they have very little risk in doing this and under the worst circumstances the FED will just bail them out.