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Post by stvalentine on Mar 6, 2016 19:14:22 GMT -5
We all lived to see what happened in 2008 and my bet is on the fact that most of the "people in the street" did not understand what was going on. All the pompous blabber and use of gobbledygook blinded them for the fact that is was just a big Las Vegas and a major crime, all on their own backs. Don´t get me wrong, this movie is in a perverse way entertaining and even has Brat Pitt in it. But simultaniously it is informative what happened eight years ago. And if you think this can and will never happen again you´re wrong as can be. I would recommend The Big Short to everyone. Sheet, they should show it in schools!
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Post by papipeguy on Mar 6, 2016 20:16:01 GMT -5
I have not seen it yet but understand it is good. I'll reserve judgement on how they handle the subject until I see it. Let's just say that I trust Hollywood even less than I do hedge fund managers.
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Post by oldcajun123 on Mar 6, 2016 21:45:09 GMT -5
I have a personal story, in 98 I retired from Exxon, sold all my Exxon stock, 5000 shares and took a lump sum, 1 million dollars, turned it over to Ameritrade, bunch of Exxon Annuints were making big money, 4 months later 2 heart bypasses, I bought a Condo at a small fishing village . Year 2000 I was almost up to 2 million, then in a year down to 300,000$, took it out with a big penalty. In 2002 we were contacted by the largest Law firm in New Orleans to see if we had a case, 2 months passed and they said we were a slam dunk. I bought a Flatbef and started delivering oil field materials, working on the 100 year old house I had cut in half and put on my farm, burning the candle at both ends. My last trip was comeing back from Corpus Christi, felt a smothering pain in chest, went home the coastal route so I wouldn't die and kill innocent people, even practiced dry runs at switching engine off . Got home went straight to hospital , 4 stints, my trucking days were over . By then Arbitration had started in New Orleans, 32 of us in suit. It lasted 3 years with Katrina in the middle. Pinching pennies we at baloney sandwiches because parking was so expensive. Lived with Daughter in Chalmete, then in their FEMA trailer after Hurricane. In 2006 we won 22 million, with 6 million for lawyer fees. Record results. One day the first of 4 , 350,000$ checks came via Fed-Ex, barefoot and smoking my pipe in porch I asked the delivery man if he had ever seen that big of a check, he said no, I opened it and showed him, telling him you"ll be bringing me 3 more . I gradually invested back in Exxon, figuring if Exxon went down money wouldn't be worth shite. Today I get 3.75% interest on my money. I help everyone I can cause I"ve been there. Financial people are sharks in a suit. Oh my best friend in trail died 6 months after getting his money. At our investors trial the head man got 5 years, they asked 3 of us to talk at trial , I brought a picture of George and asked Judge to make him look at it for my 2 minute rebuttal , if I would have been younger I would have killed him. Trust no one with your money, no one cares about you but you and your family. If you take over 5% of your lump sum every year you will run out of money. Thank you I have never told this story.
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Post by stvalentine on Mar 7, 2016 5:33:45 GMT -5
Wow Brad, that´s quite a bit of a story! But I am totally with you. The whole money system, our beloved "capitalism" doesn´t work, at least not for the people. Before 2008 I was working on a mineral oil tankterminal in the port of Hamburg. My colleagues were in a craze about buying and selling shares. Even some of my friends and neighbour were into the madness. Some of them made quite a profit and a lot of money. Then the hammer fell and the and a lot of faces with it. I knew people who had lost five or six digit sums. I hate to say I told you so but before 2008 nobody would listen to me. Good that you came out well Brad! john: This time you can trust Hollyweird, this one´s brilliant!
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