How To Turn $4.6 Million Into $1 Billion

Posted by John Carney, Feb 29, 2008, 1:16pm

Politics, of course.

8Recommend this! 13Comments

Comments

1

Posted by Anal_yst , Feb 29, 2008 1:25PM

When I saw this headline, I IMMEDIATELY thought "Tim Sykes"...

2

Posted by guest , Feb 29, 2008 1:44PM

tim sykes is the biggest loser on the planet. he would know how to blow $1bn.

also, "Anal-yst" you must be tim sykes because noone would comment on him otherwise.

3

Posted by To The Hilt , Feb 29, 2008 1:53PM

@ 1:44,

first time here, eh?

4

Posted by guest , Feb 29, 2008 1:54PM

Timmay is a baller, he's a millionaire bitch!

/sarcasm

5

Posted by Anal_yst , Feb 29, 2008 2:34PM

thanks Hilt, was wondering the same thing ha, f'in n00b

6

Posted by guest , Feb 29, 2008 2:36PM

Anyone seen this scummy website?

http://youwalkaway.com/

7

Posted by guest , Feb 29, 2008 2:44PM

@ 2:36,

there really should be some additonal sort of retribution for people who just "walk away" from their problems (i.e. mortgages) in addition to the typical stigma that applies to being foreclosed upon. Perhaps not letting them apply for a new one for X amount of years? This is a classic moral hazard situation: "sure, i will buy a house i know i cannot afford, because i'm sure i can just WALK AWAY from it if the going gets tough"...

8

Posted by Anal_yst , Feb 29, 2008 2:53PM

I'm not privy to Fair Issaic's algo, butt I'd imagine walking away would severely negatively impact a person's FiCO score, no?

9

Posted by guest , Feb 29, 2008 3:19PM

@Anal_yst -

Ah but that is just "consequence" not "retribution"....

10

Posted by Anal_yst , Feb 29, 2008 4:13PM

@ 3:19

Good point, and the same rocket scientists who think walking away will solve all their problems probably don't understand or care about that little consequence

11

Posted by guest , Feb 29, 2008 7:28PM

@2:36,
For now, yes it will. But given that the economy will be passing through a period of high foreclosures, when the credit cycle pickes up again - people will start discarding the impact of a mortgage default. After all, if 30% of the population has defaulted and your default expectations is a growing phase are much lower, you will naturally start discounting these events as one off macro-events and minimize their influence on an individual level measures of risk.

12

Posted by guest , Mar 01, 2008 1:24PM

Another scummy group

http://biz.yahoo.com/ap/080301/the_shark_hunters.html

And the scummiest company of all - Countrywide. A huge fucking blot on free market capitalism.

First they do all kinds of retarded stuff. Then Mozillo claims that the govt biling out is true 'capitalism'. Now, by giving in to negotiations with semi-criminal groups like these, they are egging these groups to take these tactics forward onto other lenders. Do we not know something about NEVER negotiating with terrorists?

13

Posted by Cincinattus C , Mar 03, 2008 2:44PM

You've got your mother and your brother
Every other undercover
Tellin' you what to say (say)
You think I'm stupid
But the truth is
That it's cupid, baby
Lovin' you has made me this way
So before you point your finger
Get your hands off of my trigger
Oh yeah
You need to know this situation's getting old
And now the more you talk
The less I can take, oh

I'm looking for attention
Not another question
Should you stay or should you go?
Well, if you don't have the answer
Why are you still standin' here?
Hey, hey, hey, hey
Just walk away
Just walk away
Just walk away

I waited here for you
Like a kid waiting after school
So tell me how come you never showed (showed)?
I gave you everything
And never asked for anything
And look at me
I'm all alone (alone)
So, before you start defendin'
Baby, stop all your pretendin'
I know you know I know
So what's the point in being slow
Let's get the show on the road today
Hey

I'm looking for attention
Not another question
Should you stay or should you go?
Well, if you don't have the answer
Why are you still standin' here?
Hey, hey, hey, hey
Just walk away
Just walk away
Just walk away

I wanna love
I want a fire
To feel the burn
My desires
I wanna man by my side
Not a boy who runs and hides
Are you gonna fight for me?
Die for me?
Live and breathe for me?
Do you care for me?
'Cause if you don't then just leave

I'm looking for attention
Not another question
Should you stay or should you go?
Well, if you don't have the answer
Why are you still standin' here?
Hey, hey, hey, hey
Just walk away

If you don't have the answer
Walk away
Just walk (walk) away
(Just walk away)
Then just leave
Yeah yeah
Walk away
Walk away
Walk away

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