| Monday, October 6, 2008 - 12:06 am |
My logic is not really meant to be followed in this case.
heres where I think the $57K went...
She put the $57K in Country Wide stock. The mortgage broker who sold her the loan also gave her the tip that WaMu was about to buy Country Wide for top dollar.(which is in fact true)
Her $57K stock holdings went right up to $250K when the WaMu/Country Wide deal was announced.
She thought perhaps, she should have paid off the mortgage at that juncture, but she knew with absolute certainty that the value of her real estate, and stocks, would go up forever. No real need to worry about cash for some time. That would be her grand kids issue, not hers dont ya know.
Well, when the stock hit $0.15(her holdings were barely $300)and she was faced with a single story house(worth 50% of what it was a year ago)that sadly did not offer the option of jumping out an upper lever, she shot herself.
(Disclaimer: Im really a very compassionate conservative. Im in the middle of the spectrum frankly. I just played along in this tread to bug my friend DP)
Now Ill enjoy my lunch of ToFu Burgers because its too expensive to raise live stock in California. Seems the cost of retooling whole farms(so the chickens, pigs and calves can stretch their legs before their throats are cut) was too much burden for the farmers and they decided to farm in Mexico.
Viva La Economics
Viva La Gold tooth in DP's front tooth. You would have been better advised to just put the cash in the mattress.
you look like Ocho Cinco(Chad Johnson)!