Archived posting to the Leica Users Group, 2011/03/14

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Subject: [Leica] Manhattan Harbor
From: leica at rcmckee.com (R. Clayton McKee)
Date: Mon, 14 Mar 2011 15:50:48 -0500
References: <AANLkTi=Fd9LMsXf6e=7sJhmVTVmGN=mE_3s_11c7zWQX@mail.gmail.com>, <EA3D4B75-A5E6-4DB3-A35D-9AE6865F4AC3@mac.com>, <605761.3826.qm@web86701.mail.ird.yahoo.com>

Quoth the FRANK DERNIE :

> The bankers were not as well educated or clever as they thought.
> Lending the 
> same money more than once, which is effectively what selling a loan
> to someone 
> else then lending the money agin is, is the financial equivalent of
> a perpetual 
> motion machine. Anybody who thought it could work was stupid,
> illogical and/or 
> ill-educated. 


How so?  Not one of the people who pulled 7, 8, 10-figure 
compensation packages while running that scam has been imprisoned or 
fined; damn few have even been "inconvenienced" to the extent of 
losing their jobs, businesses, tax shelters, or any of their marks' 
trust.  They are, in fact, therefore set for life at a level which 
enables them to buy fleets of Jaguars, production runs of S2's, and 
swimming pools of single malts out of pocket change....  Equipment we 
can barely dream about are in their rounding errors.

So there are two options:  Either they blew it through mismanagement 
and stupidity... . or they accomplished precisely what they meant to 
accomplish - but lied about their goals and intentions from the 
beginning.

Here's a hint:  They are NOT stupid or incompetent.

--


R. Clayton McKee                           http://www.rcmckee.com
Photojournalist                               rcmckee at rcmckee.com
P O Box 571900                           voice/fax   713/783-3502
Houston, TX 77257-1900                   cell phone #  on request



Replies: Reply from Frank.Dernie at btinternet.com (Frank Dernie) ([Leica] Manhattan Harbor)
Reply from imagist3 at mac.com (George Lottermoser) ([Leica] Manhattan Harbor)
In reply to: Message from lrzeitlin at gmail.com (Lawrence Zeitlin) ([Leica] Manhattan Harbor)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] Manhattan Harbor)
Message from frank.dernie at btinternet.com (FRANK DERNIE) ([Leica] Manhattan Harbor)