Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-10-2011, 08:45 PM
 
Location: it depends
6,369 posts, read 6,385,381 times
Reputation: 6388

Advertisements

So far the biggest "occupy" type protest has happened in Chicago:

Thousands in Chicago protest financial industry | Reuters

The ironic thing is, the dumbest real estate story I've heard is about a pair of retired Chicago schoolteachers who took on a couple of million dollars in mortgage debt to speculate on seven resort-area properties, which are now worth about a third of what they paid. And they are underwater on their house by a six-figure amount due to a refinance to make down payments on their speculative purchases.

So they are getting sued by four lenders with more to follow, and cannot see how they can even keep their home. Of course, they can walk away from all the debt they ran up, and be just fine with their swell tax-payer-provided pensions.

So did the bankers have the market for greed and stupidity cornered? Guess not.
Reply With Quote Quick reply to this message

Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top