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Legend
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Legend
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Sad story but good for him for keeping his spirits up and moving forward...
yebat' Putin
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Legend
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Legend
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Those crazy kids these days 
I AM ALWAYS RIGHT... except when I am wrong.
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Legend
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Legend
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Sucks, but that stuff happens.
My wife's grandmother never worked a day in her life. My wife's grandfather was a businessman and owned a small bar in Maryland. They sold the bar and retired in Florida, once he passed away, her grandmother put her savings into an investment, and the broker took off with the cash, left her penny-less for her remaining years.
It is sad, and it probably happens more than we think.
But I do want to know why if he had 700k in investments, why carry a house payment?
Last edited by FloridaFan; 02/24/09 11:59 AM.
We don't have to agree with each other, to respect each others opinion.
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Legend
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Legend
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Wow,, both a sad story and a hopeful story.. amazing...
I can't believe the wife is sorry for Madoff because he has to live with what he did.. wow., Amazing.. I'd wanna shoot the guy.
You wanna know what's wrong with country and why we are in the mess we are in... well, at least some of it can be blamed on the greed of folks like Madoff..
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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Steeler
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We saw this on the news the other day...unbelievable that $700,000 can disappear just like that...I mean holy cow, I don't know what I would do.
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Rookie
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the greed began when Ron Reagon said greed is good.and that deficits dont matter.he had alot of crazy ideas.he was actualy crazy,and we followed him.because he told us to spend all the money we wished and ran a 4 trillion dollar debt.he sure loved money,what a crazy guy. 
Last edited by maindawg; 02/24/09 07:09 PM.
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Quote:
We saw this on the news the other day...unbelievable that $700,000 can disappear just like that...I mean holy cow, I don't know what I would do.
Probably the only good news from this is that the guy won't get hit with the death tax.
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Legend
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Legend
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Quote:
But I do want to know why if he had 700k in investments, why carry a house payment?
There are reasons.
Your investments might not be liquid......many times talking about a 401 which you can't really access is listed as such.
You get a tax deduction for the interest paid on the mortgage...that deduction plus the expected return on the investments could exceed the amount you pay on the home each year.
I didn't read everything, but saw your comment....the investments may have(getting back to liquidity) may have been in other real estate where you couldn't sell off just a portion....or in a family business...called such even when it was liquor on the shelf of the family liquor store(example).
Paying off a home is great, but it isn't always the best move....and these times illustrate the point.
Paying $200,000 cash to free and clear a note 12 moths ago wouldn't have been a good business move seeing home values are dropping every day.
Hard to walk away from that..
If everybody had like minds, we would never learn. GM Strong ![[Linked Image]](http://www.dawgtalkers.net/uploads/small-gator-chomp.gif)
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Legend
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Legend
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Quote:
the greed began when Ron Reagon said greed is good.
I think you have Ronald Reagan confused with Gordon Gecko.
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and that deficits dont matter.
His exact quote was.. "I don't worry about the deficit, it's large enough to take care of itself." ... if you can't see that as joking, then I'm sorry.
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he was actualy crazy,and we followed him.
And I'd follow him again in a heartbeat.
yebat' Putin
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Legend
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Legend
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Quote:
Quote:
But I do want to know why if he had 700k in investments, why carry a house payment?
There are reasons.
I can understand that, but God help me if I still have a mortgage at 90 
We don't have to agree with each other, to respect each others opinion.
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Legend
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Reagan was probably the most fiscally irresponsible president we've had in modern times. I don't know if he started the mindset that took us down the path we're on or just happened to be at the helm when it took over...I would guess the latter. But his presidency certainly embodied that mindset.
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Legend
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Legend
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Quote:
Reagan was probably the most fiscally irresponsible president we've had in modern times.
How?
yebat' Putin
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when mr Reagon conspired with Iranian terrorist to sabotage the presidency of president carter,by delaying the release of hostages,our national debt was a very managable 18 billion dollars.when ciminal president reagon left office the debt was 3 trillion dollars
.http://suicidegirls.com/news/politics/23581/
Last edited by maindawg; 02/25/09 07:21 PM.
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