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Going to the Change window for my money back !

By: Mike Robins
Saturday, April 05, 2008 7:38 AM

Happy Saturday,

Just sitting here thinking about the whole "broken bubble" thing and I think I have it figured out.

What we need here is a change window at the mortgage company, When I go to a Casino in Vegas you see them everywhere so why not have them at the Banks and Mortgage companies.

Heres how it will work........The Government is the Casino and the Mortgage brokers are the cash windows.

And of course people are the players. When you pick your slot machine on the floor you go to the window and let the cashier know that you are going to be playing that machine because the person that was playing it "won allot of money" Oh and you will need to borrow the money to play.

To qualify for the money all I have to do is tell them My job as a Gas station attendant pays me 50,000 a year if I include the tips and of course I will pay them back even if I don't win.

The Cashier will then give you a loan that is based on how much you will gamble for the fist 80% of the day at say 7% return for them and a 20% loan based on what you do for the later part of the day say at 10% interest for them. Sounds good to me so far I'm not out any money and they are going to make a very good return on there money when I win.

As part of the fun if I don't pay it back by that night then tomorrow it will cost me 8% and 11% and this will go up by the day to a maximum of 12% and 18% but not to worry if by the third or forth day I am still not winning all I have to do is go back to the cashier and tell them I can't pay them the outrageous interest rate on the money I gambled away because they tricked me into signing up for the machine, Then of course they tell the Casino they loaned me the money and now the Casino will need to give them more money to make sure the window stays open "but from now on they won't lend me any more" and the machine I was playing will be turned into a penny machine instead of the dollar machine I played.

Oh and  my tips are really not as good as I told them at the Gas Station but I thought they would be better by tomorrow and I could just borrow more money at less interest and keep playing.

The Moral of the story is Borrowing all the money to gamble on and then blaming the casino for letting you do it is like Drinking a six pack of beer and blaming the brewer for getting drunk.

An Idol Mind is The Devils Workshop !!!!!   Devil      

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Comments

Nate Covington
Member Since '07

Nate Covington said:

Mike,  I think you hit the "Progressive" jackpot in your analogy.

I might add that we real estate people may be the cocktail waitresses/waiters?, or the cigarette girl.

April 5, 2008 7:24 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

[Mike sez: Borrowing all the money to gamble on and then blaming the casino for letting you do it is like Drinking a six pack of beer and blaming the brewer for getting drunk.]

Amen!

And Nate, the RE people are the 'Casino Hosts' . . . LOL

April 6, 2008 1:26 AM
Abe Hantout
Member Since '07

Abe Hantout said:

How about the casino lending money without basic due diligence, such as checking the ability to pay back or the borrower’s claim of income or work history, or credit history or ……..?

Some lenders or their officers were not as innocent as they now claim. They lent money with little concern for the buyers’ ability or willingness to maintain the necessary monthly payments. Of course, those loans were given because lending officers made commissions at every step of the process. In addition, some loans could be sold in the investment market at a discount rates and generate an immediate cash flow.

How many of us were shocked to see some of our clients qualify for a house that we thought they couldn’t afford? They are the same clients that are now in bankruptcy, foreclosure, short sale, etc. Yet, they received the loan from someone whose sole aim must have been to make the commissions.

It is good to compare some financial institutions with casinos; after all they were gambling with the investors’ money. However, if casinos had operated like these mortgage companies, they would have been out of business long time ago. We all know that “The House Never Loses”.

April 7, 2008 3:58 PM
Karen Weger
Member Since '05

Karen Weger said:

Great analogy. Love it.

April 15, 2008 8:12 PM

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Mike Robins
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