On Thu, Feb 14, 2008 at 12:37 PM, Ricardo Aráoz <[EMAIL PROTECTED]> wrote:

> Stephen Russell wrote:
>
> >  We have no idea how messed up New Orleans is and it's in our own
> > damn country.
>
> You're probably right, but we Americans don't care so much about New
> Orleans, after all it's a local issue, you natives should sort it out
> yourselves. That would be after you sort out your economy, which you
> hopelessly mangled because you have no idea about how things should be
> properly done. But we Americans are done holding your hands, you should
> emerge as a developed nation by your own efforts.
>
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I find it very funny how we created investment instruments that on the front
end seemed like great potential.  Very short term lifespan for a 30 year
note.  A rate change event was used to implement a reissue on said note.

Suddenly we realize that we were generating false wealth and the rug got
pulled from underneath.

I am curious how many other counties were doing the same thing in over
valuation for real estate and  convincing many people that they could live
an affluent life when they really didn't belong there?



-- 
Stephen Russell
Sr. Production Systems Programmer
Mimeo.com
Memphis TN

901.246-0159


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