“The Subprime Blame Game: Where Were the Realtors?”

[Raybyrnes]

Hey how about the fact that the guy got into the mortgage business at the right time, has probably made a ton of money and is able to get a lender to provide him with millions of dollars of their money to invest in real estate. Got to tell you, he must have been doing something right. The paper only gives part of the story. I remember a pretty reputable paper that made Rich seem fairly ignorant because they only reported half the story. I would not consider the UT the most reliable of sources.

As for ridiculous kit surfing seemed pretty unusual aswell and I’ll tell you that I see a lot of people on the bay kite surfing.

[Raybyrnes]

Hey how about the fact that the guy got into the mortgage business at the right time, has probably made a ton of money and is able to get a lender to provide him with millions of dollars of their money to invest in real estate. Got to tell you, he must have been doing something right. The paper only gives part of the story. I remember a pretty reputable paper that made Rich seem fairly ignorant because they only reported half the story. I would not consider the UT the most reliable of sources.

As for ridiculous kit surfing seemed pretty unusual aswell and I’ll tell you that I see a lot of people on the bay kite surfing.

[JWM in SD]

“Hey how about the fact that the guy got into the mortgage business at the right time, has probably made a ton of money and is able to get a lender to provide him with millions of dollars of their money to invest in real estate. Got to tell you, he must have been doing something right.”

Umm, yeah. Do I really need to explain why mortgage brokers made money in the past 5 years again?? Do I?? Here’s a tip. go check the exchange rate between the Euro and USD right now and let me know what you think. Your answer will tell if you really understand what happened or not.

[JWM in SD]

“Hey how about the fact that the guy got into the mortgage business at the right time, has probably made a ton of money and is able to get a lender to provide him with millions of dollars of their money to invest in real estate. Got to tell you, he must have been doing something right.”

Umm, yeah. Do I really need to explain why mortgage brokers made money in the past 5 years again?? Do I?? Here’s a tip. go check the exchange rate between the Euro and USD right now and let me know what you think. Your answer will tell if you really understand what happened or not.

[JWM in SD]

“Hey how about the fact that the guy got into the mortgage business at the right time, has probably made a ton of money and is able to get a lender to provide him with millions of dollars of their money to invest in real estate. Got to tell you, he must have been doing something right.”

Umm, yeah. Do I really need to explain why mortgage brokers made money in the past 5 years again?? Do I?? Here’s a tip. go check the exchange rate between the Euro and USD right now and let me know what you think. Your answer will tell if you really understand what happened or not.

[Raybyrnes]

So would you prefer to have a million buck or are you more comfortable with your theory? I’ll take the million bucks you keep the theory.

[Raybyrnes]

So would you prefer to have a million buck or are you more comfortable with your theory? I’ll take the million bucks you keep the theory.

[Raybyrnes]

So would you prefer to have a million buck or are you more comfortable with your theory? I’ll take the million bucks you keep the theory.

[Raybyrnes]

So would you prefer to have a million buck or are you more comfortable with your theory? I’ll take the million bucks you keep the theory.

[JWM in SD]

That wasn’t the point…and now I know you really don’t get it do you????

[JWM in SD]

That wasn’t the point…and now I know you really don’t get it do you????

[JWM in SD]

That wasn’t the point…and now I know you really don’t get it do you????

[JWM in SD]

That wasn’t the point…and now I know you really don’t get it do you????

[davelj]

First of all, I’m guessing that Mike Railey didn’t save up much of the money he was making as a mortgage broker over the last several years if for no other reason than he admitted that he was scared and struggling. That kind of speaks for itself.

Fortunately, as a society we all benefit from entrepreneurs/inventors like Railey. Sure, 99% of them bite the dust, but that 1% brings an awful lot to the table. Who knows? Maybe Railey’s motorized surfboard will be some great benefit to consumers. Regardless, as a society we benefit from all those who try (in aggregate) even though the vast majority fail (individually).

When I meet people like Railey – and there are a lot of them out there – I always tell them that I think they’re crazy, but I thank them for their efforts. Find me 100 Raileys and I’ll bet against all 100… and I’ll be wrong maybe on one. But that one success, well that’s what really moves society forward. So long as I don’t have to personally subsidize these wacky folks, I’m a big fan of their risk taking.

[davelj]

First of all, I’m guessing that Mike Railey didn’t save up much of the money he was making as a mortgage broker over the last several years if for no other reason than he admitted that he was scared and struggling. That kind of speaks for itself.

Fortunately, as a society we all benefit from entrepreneurs/inventors like Railey. Sure, 99% of them bite the dust, but that 1% brings an awful lot to the table. Who knows? Maybe Railey’s motorized surfboard will be some great benefit to consumers. Regardless, as a society we benefit from all those who try (in aggregate) even though the vast majority fail (individually).

When I meet people like Railey – and there are a lot of them out there – I always tell them that I think they’re crazy, but I thank them for their efforts. Find me 100 Raileys and I’ll bet against all 100… and I’ll be wrong maybe on one. But that one success, well that’s what really moves society forward. So long as I don’t have to personally subsidize these wacky folks, I’m a big fan of their risk taking.

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