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Don't Buy Investor-Government Scheme

anonymous Wrote: Jul 15, 2012 1:00 PM
Governments pretend to want to take care of people as an excuse to loot other people. They work just like most corrupt charities except they force people to turn over their hard earned money, pocket a large part for themselves and dole out some of it to maintain the scheme.
There are some ideas so convoluted that only an expert (or wannabe expert) could love them.
For example: collateralized debt obligations, which seemed like a good idea until the mortgage meltdown swamped the U.S. economy.
Into this hallowed territory comes a new instrument, playing its siren song.
San Francisco startup Mortgage Resolution Partners has come up with the brilliant idea of getting local governments to use the power of eminent domain to seize underwater mortgages and pay the mortgage holders something less than the market value of the home. That allows the homeowner to get a new, lower-balance...