Replies to post #12025 on Fannie Mae Preferred S (FNMAS)

[Letgoofmyfannie]

Angelo Mozillo won...

and he's got a really great tan.

We only lost after a long period of five'll getcha ten and ten'll getcha twenty prosperity. Unfortunately many were affected by the hangover even when they didn't even taste the wine.

The people that ran the many hundred's of Fog the Mirror Here's Your Loan Mortgage Co's probably did well, salaries, bonuses, etc. during the fat years, and there were quite a few others in Banks, etc. who built corporate resumes on the Housing Bubble.

Even those far from Wall Street were profiting. For example in 2004 a truck driver at work mentioned he had flipped three houses in the last year and had two more in the works and was thinking about doing this full time as he had made $120K on them...

The list goes on and on, don't forget Jimmy Lockhart, he made coin on his Wilbur Ross salary...

[5bagger]

Mortgage brokers won RE agents won

RE agents - Selling inflated price houses, making 6%
Brokers making those deals - percentage of the initial loans (again, inflated)

There were lean years to follow....

Lawyers are winning. Someone on the Banks' side now.

Foreclosure period - someone picking up low ball RE, right?

Agree, a zero sum in some respects (when the housing prices get back to the levels of 2008)

[feralcomprehension]

I did. I'm sitting on a 9x portfolio increase and the story isn't over yet.

By pure unadulterated laziness I was 100% cash in Q2 of 2008.