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Post# of 33445
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Alias Born 07/28/2009

Re: Estimated_Prophet post# 29003

Tuesday, 10/20/2009 12:41:38 PM

Tuesday, October 20, 2009 12:41:38 PM

Post# of 33445
No reason to be sorry. I aint feelin sorry for myself. It is what it is. I think we have some fundamental problems that are finally being exposed. For too long people in this country were making lots of money by not producing anything or doing much of anything to create value anywhere. In my case I was able to leverage debt, buy property and live a nice life on the cash flows. As long as my property values were rising, I had no troubles. But as soon as they plunged, then the bankers wanted me to reduce the leverage. I couldn't do it when my tenants stopped paying me or were late all the time. So I got the bank breathing down my neck and I am breathing down the neck of some unemployed family. We're all looking for cash and it just aint there. Hose Bag city for everyone!

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