You seem to have forgotten that they know excatly where to find these “investors” with their monthly income, so they also know where they are to discuss defaults.
Because defaults were never considered when these portfolios were sold, it’s a matter of shock and denial right now to many.
Until they realize that some return is better than no return, it’s going to be messy.
Hedge funds by nature do not need to disclose their losses or net asset value. There are HUGE losses that have not been disclosed, including cities, counties, pension funds,
and bank money market funds that are NOT FDIC insured.
All the talk about the “bailout”…I can’t wait for a meeting of distressed homeowners who want to hold it at Starbucks. After going out for a yuppie dinner, They will drive up in Hummers, wearing designer clothes and jewellery, complaining that they just cannot afford their mortgage payments.
Qualifying for bailout should be easy in my opinion.
A YES answer to any of the below disqualifies you from bailout help.
1)EVER been to Starbucks ?
2)Do you shop at the mall ?
3)Did you car cost over $30K ?
4)Do ALL adults in the home work less than 50 hours a week ?
5)Does your home have cable/satellite TV AND does each person have a cel phone AND do you have a video game player ?
