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When pensions run dry...
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<blockquote data-quote="bbsam" data-source="post: 793695" data-attributes="member: 22662"><p>You are correct. I know little about the subject. However, if a Ponzie scheme is "one that will collapse as it runs short of new suckers to sustain it," I can think of fewer things that fit that description than the housing market of 2003-2007 with inflated assessments, people using home equity loans based upon those assessments, and the mortgage companies packaging the suspect notes to "spread the risk". Now if there were to be certain companies guaranteeing these "securitized assets" which would be a kind of "insurance" and the bottom dropped out of the housing market who stands to lose when the homeowner decides it's not worth paying the mortgage? Well the Federal Government of course! Yep. Seems the "suckers" run all the way through that scenario.</p></blockquote><p></p>
[QUOTE="bbsam, post: 793695, member: 22662"] You are correct. I know little about the subject. However, if a Ponzie scheme is "one that will collapse as it runs short of new suckers to sustain it," I can think of fewer things that fit that description than the housing market of 2003-2007 with inflated assessments, people using home equity loans based upon those assessments, and the mortgage companies packaging the suspect notes to "spread the risk". Now if there were to be certain companies guaranteeing these "securitized assets" which would be a kind of "insurance" and the bottom dropped out of the housing market who stands to lose when the homeowner decides it's not worth paying the mortgage? Well the Federal Government of course! Yep. Seems the "suckers" run all the way through that scenario. [/QUOTE]
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