The Alarming Parallels Between 1929 and 2007 | The American Prospect

The Alarming Parallels Between 1929 and 2007 | The American Prospect:
"The most basic and alarming parallel is the creation of asset bubbles, in which the purveyors of securities use very high leverage; the securities are sold to the public or to specialized funds with underlying collateral of uncertain value; and financial middlemen extract exorbitant returns at the expense of the real economy. This was the essence of the abuse of public utilities stock pyramids in the 1920s, where multi-layered holding companies allowed securities to be watered down, to the point where the real collateral was worth just a few cents on the dollar, and returns were diverted from operating companies and ratepayers. This only became exposed when the bubble burst. As Warren Buffett famously put it, you never know who is swimming naked until the tide goes out."

Another FB Seeking Next Fool

Remember I told you that I like to sometimes cross-search on people looking for others to take over their money-sucking auto leases.
Here's another one. Suzy wants rent her Sacramento house (do I hear up-side down?) and at the same time trying to find someone to take over the $1350 per month payment on her 2007 HSE Range Rover.
Sorry but I really have a hard time containing my schadenfreude.

Location, Location, Location.....:
"$2400 / 5br - Location, Location, Location..... Reply to: suzyfrank0307@yahoo.com Date: 2007-10-01, 3:19PM PDT STUNNING LAKE COMMUNITY RENTAL!!!!!!! This beautifully decorated and spacious home features granite countertops and hard wood flooring throughout. It too has an enclosed office with french doors to include a large custom built 2 person desk with lots of cabinets and drawers for storage. This home has 4 (possibly 5) bedrooms/3 full baths, 3 car tandem garage + a huge bonus room that can be an additional master size bedroom or a playroom. This 3 year old home has a 26 jet hot tub, fully landscaped back yard with large trees for privacy, on the green belt, partial lake views, a dog run and is in a very quiet and family friendly neighborhood. Best of all...it is only 15 minutes from Downtown Sacramento, 20 minutes from Davis and 6 minutes to the nearest grocery store. ******Serious candidates only please!***** Lease to buy options are welcomed! Contact Suzy: (916) 214-4632"

2007 HSE Range Rover: "This gorgeous white HSE has only 7,300 miles. Has every ammenity imaginable to include Lo-Jack, dual tv's on the back of driver and passenger seats, 6 disc player, etc. All maintenance is included as well. I am looking for someone to take over the lease. I will forfit my deposit. The monthly payment is $1350 + tax. ******************Serious Applicants only PLEASE!************ Call Suzy (916) 214-4632; suzyfrank0307@yahoo.com"