Report shows strategic defaults increasing

[sdrealtor]

I’ve completely stayed out of this because i guess that I am a different breed. If I did what Bill did, I would consider myself a slimy deadbeat freeloader. I would not be able to sleep at night nor could I live with myself. However that is me looking at me through the lense I view myself through.

When I look at Bill’s actions, I say…..whatever. I’m not here to judge the morality of his actions and I dont compare or judge myself relative to him or anyone else. If what he does is legal and he can live it with it thats fine by me. I wouldnt hang out or respect someone like him but I wouldnt condemn him either.

I guess more than anything it makes scaredy wrong that we all compare oursleves to others and judge ourselves that way. At least one of us doesnt and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..

[Arraya]

http://www.oftwominds.com/blogapr10/gaming-system04-10.html
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. The hedge fund helped GS select the most likely to default mortgage tranches to raise the probability that their bet (going short) against the mortgages would rise to essentially guaranteed profitability.

This is the norm on wall Street and has been since at least the late 1990s, as revealed in the important book Fiasco: The Inside Story of a Wall Street Trader.

But it’s not just Wall Street which the status quo rewards for gaming the system: the housing/credit bubble offered average Americans ample opportunities to game the system–a practice they continue perfecting as the Federal government desperately attempts to reinflate the housing bubble with wave after wave of trillion-dollar bailouts, mortgage guarantees and tax credits.

snip

This leads to a staggering conclusion: were the gaming to cease, the stock market would collapse, as it now depends on dark pools, high-frequency trading, unregulated derivatives, and a host of other “gaming the system” tricks. Without the tricks to support it, the U.S. market will fall like a rotten plum.

[Arraya]

http://www.oftwominds.com/blogapr10/gaming-system04-10.html
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. The hedge fund helped GS select the most likely to default mortgage tranches to raise the probability that their bet (going short) against the mortgages would rise to essentially guaranteed profitability.

This is the norm on wall Street and has been since at least the late 1990s, as revealed in the important book Fiasco: The Inside Story of a Wall Street Trader.

But it’s not just Wall Street which the status quo rewards for gaming the system: the housing/credit bubble offered average Americans ample opportunities to game the system–a practice they continue perfecting as the Federal government desperately attempts to reinflate the housing bubble with wave after wave of trillion-dollar bailouts, mortgage guarantees and tax credits.

snip

This leads to a staggering conclusion: were the gaming to cease, the stock market would collapse, as it now depends on dark pools, high-frequency trading, unregulated derivatives, and a host of other “gaming the system” tricks. Without the tricks to support it, the U.S. market will fall like a rotten plum.

[Arraya]

http://www.oftwominds.com/blogapr10/gaming-system04-10.html
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. The hedge fund helped GS select the most likely to default mortgage tranches to raise the probability that their bet (going short) against the mortgages would rise to essentially guaranteed profitability.

This is the norm on wall Street and has been since at least the late 1990s, as revealed in the important book Fiasco: The Inside Story of a Wall Street Trader.

But it’s not just Wall Street which the status quo rewards for gaming the system: the housing/credit bubble offered average Americans ample opportunities to game the system–a practice they continue perfecting as the Federal government desperately attempts to reinflate the housing bubble with wave after wave of trillion-dollar bailouts, mortgage guarantees and tax credits.

snip

This leads to a staggering conclusion: were the gaming to cease, the stock market would collapse, as it now depends on dark pools, high-frequency trading, unregulated derivatives, and a host of other “gaming the system” tricks. Without the tricks to support it, the U.S. market will fall like a rotten plum.

[Arraya]

http://www.oftwominds.com/blogapr10/gaming-system04-10.html
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. The hedge fund helped GS select the most likely to default mortgage tranches to raise the probability that their bet (going short) against the mortgages would rise to essentially guaranteed profitability.

This is the norm on wall Street and has been since at least the late 1990s, as revealed in the important book Fiasco: The Inside Story of a Wall Street Trader.

But it’s not just Wall Street which the status quo rewards for gaming the system: the housing/credit bubble offered average Americans ample opportunities to game the system–a practice they continue perfecting as the Federal government desperately attempts to reinflate the housing bubble with wave after wave of trillion-dollar bailouts, mortgage guarantees and tax credits.

snip

This leads to a staggering conclusion: were the gaming to cease, the stock market would collapse, as it now depends on dark pools, high-frequency trading, unregulated derivatives, and a host of other “gaming the system” tricks. Without the tricks to support it, the U.S. market will fall like a rotten plum.

[Arraya]

http://www.oftwominds.com/blogapr10/gaming-system04-10.html
Gaming the system is not just encouraged–it has become the foundation of the U.S. economy. Without it, the status quo will implode. Goldman Sachs gamed the system to package guaranteed-to-default mortgages and present them to buyers as AAA-rated “safe” investments yielding a high return, while selling a hedge fund derivatives which were a bet against the mortgages. The hedge fund helped GS select the most likely to default mortgage tranches to raise the probability that their bet (going short) against the mortgages would rise to essentially guaranteed profitability.

This is the norm on wall Street and has been since at least the late 1990s, as revealed in the important book Fiasco: The Inside Story of a Wall Street Trader.

But it’s not just Wall Street which the status quo rewards for gaming the system: the housing/credit bubble offered average Americans ample opportunities to game the system–a practice they continue perfecting as the Federal government desperately attempts to reinflate the housing bubble with wave after wave of trillion-dollar bailouts, mortgage guarantees and tax credits.

snip

This leads to a staggering conclusion: were the gaming to cease, the stock market would collapse, as it now depends on dark pools, high-frequency trading, unregulated derivatives, and a host of other “gaming the system” tricks. Without the tricks to support it, the U.S. market will fall like a rotten plum.

[NotCranky]

[quote=sdrealtor]

I guess more than anything it makes scaredy wrong that we all compare ourselves to others and judge ourselves that way. At least one of us doesn’t and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..[/quote]

I don’t buy scaredy’s theory.

There are a lot of good reasons to live in a neigborhood deliberately, inspite of potentially being representative of someone’s idea of what the lower 2/3 constitutes.

There may well be an inherent primate tendency to compare ourselves to others, I am sure there is.It is part of how we learn to deal with our environment/relations/interactions, but the measuring stick we chose to use can vary in its qualities greatly. The tendency can also be kept in perspective sufficiently to maintain happiness in any reasonable place.

Consumption habits, material possessions,position,looks etc., may be common items on many peoples measuring sticks but sensible,secure people,however rare, have better devices, and I think more common sense than to make themselves unhappy because they don’t come off as king of the hill.

Sometimes I think the people who struggle to be the king of the hill,bigshots, are the ones that have the most dysfunctional metrics. They are the ones that easily find themselves in Bill’s upside down situation and working the system(to compensate for failure),or working for blood money, or whoring themselves, even though in some cases, they make, or have been given, much more money than many contented, humble, people will ever see.

Ultimately, I think a life possesed of a satisfying “purpose” or “purposes”is more important than anything else.

Oh yes…party on Bill.

[NotCranky]

[quote=sdrealtor]

I guess more than anything it makes scaredy wrong that we all compare ourselves to others and judge ourselves that way. At least one of us doesn’t and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..[/quote]

I don’t buy scaredy’s theory.

There are a lot of good reasons to live in a neigborhood deliberately, inspite of potentially being representative of someone’s idea of what the lower 2/3 constitutes.

There may well be an inherent primate tendency to compare ourselves to others, I am sure there is.It is part of how we learn to deal with our environment/relations/interactions, but the measuring stick we chose to use can vary in its qualities greatly. The tendency can also be kept in perspective sufficiently to maintain happiness in any reasonable place.

Consumption habits, material possessions,position,looks etc., may be common items on many peoples measuring sticks but sensible,secure people,however rare, have better devices, and I think more common sense than to make themselves unhappy because they don’t come off as king of the hill.

Sometimes I think the people who struggle to be the king of the hill,bigshots, are the ones that have the most dysfunctional metrics. They are the ones that easily find themselves in Bill’s upside down situation and working the system(to compensate for failure),or working for blood money, or whoring themselves, even though in some cases, they make, or have been given, much more money than many contented, humble, people will ever see.

Ultimately, I think a life possesed of a satisfying “purpose” or “purposes”is more important than anything else.

Oh yes…party on Bill.

[NotCranky]

[quote=sdrealtor]

I guess more than anything it makes scaredy wrong that we all compare ourselves to others and judge ourselves that way. At least one of us doesn’t and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..[/quote]

I don’t buy scaredy’s theory.

There are a lot of good reasons to live in a neigborhood deliberately, inspite of potentially being representative of someone’s idea of what the lower 2/3 constitutes.

There may well be an inherent primate tendency to compare ourselves to others, I am sure there is.It is part of how we learn to deal with our environment/relations/interactions, but the measuring stick we chose to use can vary in its qualities greatly. The tendency can also be kept in perspective sufficiently to maintain happiness in any reasonable place.

Consumption habits, material possessions,position,looks etc., may be common items on many peoples measuring sticks but sensible,secure people,however rare, have better devices, and I think more common sense than to make themselves unhappy because they don’t come off as king of the hill.

Sometimes I think the people who struggle to be the king of the hill,bigshots, are the ones that have the most dysfunctional metrics. They are the ones that easily find themselves in Bill’s upside down situation and working the system(to compensate for failure),or working for blood money, or whoring themselves, even though in some cases, they make, or have been given, much more money than many contented, humble, people will ever see.

Ultimately, I think a life possesed of a satisfying “purpose” or “purposes”is more important than anything else.

Oh yes…party on Bill.

[NotCranky]

[quote=sdrealtor]

I guess more than anything it makes scaredy wrong that we all compare ourselves to others and judge ourselves that way. At least one of us doesn’t and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..[/quote]

I don’t buy scaredy’s theory.

There are a lot of good reasons to live in a neigborhood deliberately, inspite of potentially being representative of someone’s idea of what the lower 2/3 constitutes.

There may well be an inherent primate tendency to compare ourselves to others, I am sure there is.It is part of how we learn to deal with our environment/relations/interactions, but the measuring stick we chose to use can vary in its qualities greatly. The tendency can also be kept in perspective sufficiently to maintain happiness in any reasonable place.

Consumption habits, material possessions,position,looks etc., may be common items on many peoples measuring sticks but sensible,secure people,however rare, have better devices, and I think more common sense than to make themselves unhappy because they don’t come off as king of the hill.

Sometimes I think the people who struggle to be the king of the hill,bigshots, are the ones that have the most dysfunctional metrics. They are the ones that easily find themselves in Bill’s upside down situation and working the system(to compensate for failure),or working for blood money, or whoring themselves, even though in some cases, they make, or have been given, much more money than many contented, humble, people will ever see.

Ultimately, I think a life possesed of a satisfying “purpose” or “purposes”is more important than anything else.

Oh yes…party on Bill.

[NotCranky]

[quote=sdrealtor]

I guess more than anything it makes scaredy wrong that we all compare ourselves to others and judge ourselves that way. At least one of us doesn’t and as much as I like think I’m one of kind there must be others like me?????

Party on Bill…..[/quote]

I don’t buy scaredy’s theory.

There are a lot of good reasons to live in a neigborhood deliberately, inspite of potentially being representative of someone’s idea of what the lower 2/3 constitutes.

There may well be an inherent primate tendency to compare ourselves to others, I am sure there is.It is part of how we learn to deal with our environment/relations/interactions, but the measuring stick we chose to use can vary in its qualities greatly. The tendency can also be kept in perspective sufficiently to maintain happiness in any reasonable place.

Consumption habits, material possessions,position,looks etc., may be common items on many peoples measuring sticks but sensible,secure people,however rare, have better devices, and I think more common sense than to make themselves unhappy because they don’t come off as king of the hill.

Sometimes I think the people who struggle to be the king of the hill,bigshots, are the ones that have the most dysfunctional metrics. They are the ones that easily find themselves in Bill’s upside down situation and working the system(to compensate for failure),or working for blood money, or whoring themselves, even though in some cases, they make, or have been given, much more money than many contented, humble, people will ever see.

Ultimately, I think a life possesed of a satisfying “purpose” or “purposes”is more important than anything else.

Oh yes…party on Bill.

[scaredyclassic]

having a purpose and a couple of bucks in the bank are not mutually exclusive.

and the measuring sticks don’t ahve to be cash or stuff.

if you’re an academic, it’s publciations.

if you’re a law or med student, it’s grades.

if you’re a triathlete, it’s times.

wherever you’re going there’s something to measure oyurself against, and it’s probably not escapable, however much you try to pretend you live apart.

[scaredyclassic]

having a purpose and a couple of bucks in the bank are not mutually exclusive.

and the measuring sticks don’t ahve to be cash or stuff.

if you’re an academic, it’s publciations.

if you’re a law or med student, it’s grades.

if you’re a triathlete, it’s times.

wherever you’re going there’s something to measure oyurself against, and it’s probably not escapable, however much you try to pretend you live apart.

[scaredyclassic]

having a purpose and a couple of bucks in the bank are not mutually exclusive.

and the measuring sticks don’t ahve to be cash or stuff.

if you’re an academic, it’s publciations.

if you’re a law or med student, it’s grades.

if you’re a triathlete, it’s times.

wherever you’re going there’s something to measure oyurself against, and it’s probably not escapable, however much you try to pretend you live apart.

[scaredyclassic]

having a purpose and a couple of bucks in the bank are not mutually exclusive.

and the measuring sticks don’t ahve to be cash or stuff.

if you’re an academic, it’s publciations.

if you’re a law or med student, it’s grades.

if you’re a triathlete, it’s times.

wherever you’re going there’s something to measure oyurself against, and it’s probably not escapable, however much you try to pretend you live apart.

[Author]

Posts