Moral: Wherein we sort of start a side thread that will eventually merge back in.
Ben is saying that banks are being too strict. Well, Ben, Bank of America can talk about the billions that it has spent bailing out mortgages. What was it? The average is about $150,000. You know, it's coming from BofA customers, like myself.
My hope is that, at least, this is considered income for the person by the IRS. Probably not, though (not that I'm going to see if it is or not).
There are other things going on. The D.O.W. has been going down. How about 6,000? Well, as long as Ben keeps up with his free money, where else ought people go but to the ca-pital-sino? Is that not what Ben wants?
Speaking of which, savers are still being bullied about. Ben, Ben, ... We savers have another couple of years yoked into your team? We are the ones who are paying the real price. You see, we didn't ask for the financial community to go crazy silly. Ah, they are necessary; and, their computational prowess is enviable. Hah! They're gamers and extract far more value than is reasonable. Let's talk about that.
We do celebrate the newer ways, such as we see with social media of which one is particularly interesting.
This a.m., I saw a story about the guys from whom Zuck took FB, or something like that. Well, they got millions of FB stock and are holding on. Then, the story mentions that they have enough to be VCers.
One investment mentioned was SumZero. Now, the story said that it was a social media sort, like FB (the thing, not the stock), and was for the financial crowd. That got my attention.
The name was either tongue-in-cheek or a Jungian. Or, it might just be the in-your-face truth as we see nowadays with the relaxing (or unlearning) of social graces.
You see, near-zero has been argued here, for a long while, as the reality. Hence, it takes more than the market to get away from zero sum. But, how ought we get to this type of thing?
Not an easy question to answer, but we'll continue to discuss the issues here.
An aside: Earlier this am, I saw a story, a link to which I put on FB (since deleted). about this site at a news feeder. My first reaction had a ca-pital-sino flavor. Yes, the reality is that finance is more near-zero than anything that will support what we all think that we want (win-win). We know many make loads of money without contributing much (ah, I know, liquidity and other ephemeral goods) to progress. In fact, as we saw the past few years, bail outs are the norm because of a perceived necessity (that illusion is becoming greater with time) of things being the way that they are. But, there are many who contribute, real and concrete benefits, and who never get much help and cannot look to push their losses out to the rest. These things relate to an ongoing issue that is not simple, hence this link. Allows me quick access to material the analysis of which will help to describe better ways. Hint: near-zero's imperative nature.
12/12/2012 -- Yesterday, I read where a homeowner was forgiven over $370,000 (yes, three-hundred and seventy thousand dollars) on his mortgage. I think that it was BofA who did it. Being a customer, I want to know whose money went to that which has been multiplied many times. Thank you, Ben and all of your ilk who have sacked the savers. Now, Ben is saying 2015 or so, again. There is one added thing about the case: the homeowner is an immigrant. Ah, welcome to the great US. And, I'm still wondering how people can walk away from debt like this and start over. Used to be the albatross was there. That is, get into debt; then, pay it off. Not push the cost off onto others.