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Old 01-17-2014, 02:00 PM
 
Location: Barrington
40,783 posts, read 30,964,523 times
Reputation: 13759

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Quote:
Originally Posted by J746NEW View Post
Government Wall Street likes it just the way it is.

There is too much of other people's money involved to gamble with and going back to the old boring ways is not as lucrative and profitable.


The top .5% in this country owe their wealth to Wall Street, despite the fact that 50% of American's have a 401K or similar retirement plan and are not doing as well compared to the top .5%


How well would those in the top .5% do, if those 50% of American's pulled their retirement plans out of the markets.

You can see who the real leeches are.
If 50% pulled their 401K $ out of the market, they would likely be the biggest losers.
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Old 01-17-2014, 02:02 PM
 
Location: Barrington
40,783 posts, read 30,964,523 times
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[quote=jmking;33063414]
Quote:
Originally Posted by middle-aged mom View Post

What does that mean? The rating agencies where paid off with plenty of money to look the other way. Not a opinion. It was in the rating agency's interests to play along.
I am aware of the inherent conflicts of interest between Wall Street and the independent rating agencies.
I am not aware they were paid off. Maybe I missed it. Can you provide a link, please.
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Old 01-17-2014, 02:18 PM
 
4,859 posts, read 2,251,093 times
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Quote:
Originally Posted by middle-aged mom View Post
If 50% pulled their 401K $ out of the market, they would likely be the biggest losers.
Considering that the 401k account for half the money on Wall Street, the top .5% would be the loosers.

PBS Drops Another Bombshell: Wall Street Is Gobbling Up Two-Thirds of Your 401(k)


PBS Drops Another Bombshell: Wall Street Is Gobbling Up Two-Thirds of Your 401(k)

Quote:
If you work for 50 years and receive the typical long-term return of 7 percent on your 401(k) plan and your fees are 2 percent, almost two-thirds of your account will go to Wall Street. This was the bombshell dropped by Frontline’s Martin Smith in this Tuesday evening’s PBS program, The Retirement Gamble.

This is not so much a gamble as a certainty: under a 2 percent 401(k) fee structure, almost two-thirds of your working life will go toward paying obscene compensation to Wall Street; a little over one-third will benefit your family – and that’s before paying taxes on withdrawals to Uncle Sam.

To put it another way – you work for Wall Street. You are their slave, their lackey and as long as their toadies dominate in Congress, nothing is going to change on the legislative front to stop the looting. Wall Street seized millions of homes through illegal foreclosures and stripped the equity from the owners.

They got away with it. Some Wall Street firms further enriched themselves making bets that the housing market would collapse, using their inside knowledge of the bogus loans they had made. They got away with that also.

Now Wall Street is busy asset stripping the retirement plans of the working class in America while President Obama proposes to cut Social Security benefits through a discredited calculation called Chained CPI – conveniently causing people to save more in their 401(k) plans to make up for the potential loss. But the more you save, the more Wall Street asset strips.
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Old 01-17-2014, 02:21 PM
 
4,859 posts, read 2,251,093 times
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Let us also add in the fact that you are not allowed to pull your money out without penalties.
That keeps the muppets locked in.

Also, over the life of your 401K, you are going to loose money due to the pump and dump schemes that occur like clockwork every 30 years.
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Old 01-17-2014, 03:04 PM
 
6,207 posts, read 6,489,439 times
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[quote=middle-aged mom;33063773]
Quote:
Originally Posted by jmking View Post

I am aware of the inherent conflicts of interest between Wall Street and the independent rating agencies.
I am not aware they were paid off. Maybe I missed it. Can you provide a link, please.
Moody

"Moody’s gross revenue from rating the complex products quadrupled to $260 million in 2006 from $61 million in 2002, according to the congressional report. For S&P, the number also quadrupled to $265 million in 2006 from $64 million in 2002.

“Investment bankers who complained about rating methodologies, criteria, or decisions were often able to obtain exceptions or other favorable treatment,” according to the Levin report. The decisions appeared to be “concessions made to prevent the loss of business.”

All in their interests, not the investor or anyone else. Yet, our government shuts down for a week or so and BOOM! They lower the US rating.
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Old 01-17-2014, 05:47 PM
 
8,487 posts, read 5,597,327 times
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Quote:
Originally Posted by marcopolo View Post
Umm, sure, you bet. The big Wall Street investment banks ruined their owners, toasted the stock options and equity of all top officers and all the way down the ranks of employees, flushing more than a trillion dollars of their own wealth down the toilet....all so they could buy crappy houses and collect some rent, five years later.

Can we stop the absurd notion that the big banks "got away with" all the money that was "lost" in the downturn? When the mass delusion afflicting 300 million Americans that you can't lose money in real estate, when that delusion went away, we all lost. Ask the former shareholder/employees of Lehman, Bear Stearns, Merrill Lynch, Countrywide, Wells Fargo, Wachovia, Citi, etc., etc. They all got killed.

As for who owns the houses now, it is a free country. I bought an extra one, cheap--if you didn't, it is not Wall Street's fault.
That comment is a quote from the article, not mine. I also don't think your statement of the "plan" he musing on is what Tyler means.

However, when you are too big to fail and given a gambling environment that benefits you and your shareholders, which are govt et al, btw, you get away with a great deal of unhealthy behavior, unsustainable or not.
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Old 01-17-2014, 06:08 PM
 
8,487 posts, read 5,597,327 times
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Quote:
Originally Posted by middle-aged mom View Post
Really?

Can you provide a link, please.
My statement was a general one. Apparently, you are not too familiar with Blackstone group are you?(about 67% institutionally owned) or government investments? I have posted information on all of this many times.

Just a bit of information on them. Slightly dated.
https://en.wikipedia.org/wiki/Blackstone_Group
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Old 01-17-2014, 06:26 PM
 
Location: Barrington
40,783 posts, read 30,964,523 times
Reputation: 13759
Quote:
Originally Posted by CDusr View Post
My statement was a general one. Apparently, you are not too familiar with Blackstone group are you?(about 67% institutionally owned) or government investments? I have posted information on all of this many times.

Just a bit of information on them. Slightly dated.
https://en.wikipedia.org/wiki/Blackstone_Group
I am very familiar with Blackstone.

Real estate is my second career.
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Old 01-17-2014, 06:26 PM
 
8,487 posts, read 5,597,327 times
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Quote:
Originally Posted by middle-aged mom View Post
No doubt there have been a few mistaken foreclosures, especially in those states that allow non-judicial foreclosures.

There is ample opportunity for an owner to redeem his property before foreclosure.
Once foreclosed, a the asset manager, representing the bank typically offers the former owners cash for keys to depart and leave the property intact and avoid eviction proceedings.
MERS is a far bigger issue. I suppose "mistaken" is a subjective word.
New York's US Bankruptcy Court Rules MERS's Business Model Is Illegal.

Don't get to see this kind of thing everyday.
The Daily Show: Couple "Forecloses" On Bank Of America
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Old 01-17-2014, 06:39 PM
 
4,859 posts, read 2,251,093 times
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Quote:
Originally Posted by CDusr View Post
MERS is a far bigger issue. I suppose "mistaken" is a subjective word.
New York's US Bankruptcy Court Rules MERS's Business Model Is Illegal.

Don't get to see this kind of thing everyday.
The Daily Show: Couple "Forecloses" On Bank Of America
You don't see MERS discussed much in political forums either.
Another roadblock the cockroaches cleared in their scam since the old way was slowing them down.

Treating American's like they are sheeple to be raped on an industrial scale to maximize their profits.
If only the common American outside of politics really new how the game works where all our productivity, sweat and toil goes to benefit a bunch of animals that are of this world only.
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