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Berkshire Hathaway Inc. Message Board

  • mandan14shooter mandan14shooter Aug 21, 2012 2:42 PM Flag

    Nothing is sacred on Wall Street....

    My Mom, bless her heart, had her own beauty shop in the basement of our home for 49 years. She worked six days a week and played bingo half of those days in the evening for enjoyment and NEVER missed Sunday Mass. She also raised four children alone after my Dad died in late 46. She bought a new 52 Hudson because the salesman told her that if the car ever rolled over in an accident, it would always come back on its tires. A 59 Ford wagon and a few more came along the way and she always paid cash. That's a lot of haircuts at a buck-fifty and a lot of perms at 8 or 10 bucks. The surprising thing is that she invested thousands into bonds. One was in Lehman Bros. for 15k. She had a death benefit attached that if she died before the bond matured, she would at least get her full amount of investment back. When Lehman went down the tubes, some judge ruled that all holders would share the same amount. My sister received 3600 bucks....

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    • baltbear@ymail.com baltbear Aug 21, 2012 7:04 PM Flag

      mandan,
      :"My sister received 3600 bucks.... " then you can thank henry paulson and the president--bush--who asked, "how did we get into this mess?"

    • sorry to hear that. alot of folks bellyied up during the 2008 recession, homes foreclosed, jobs lost, folks went homeless and so on.

      however what bothers me the most is not the bailouts or the extraordinary loans but the fact that the SEC did nothing to discover this. it seemed everything was a ponzi scheme.

      and now look at facebook stock, come on SEC, we need a ref here, ok.

      what is the true values of these stocks these days, what truely is a stock worth?

      in my opinion, the only guarantee that i have had is a new york life insurance policy becuz a policy is a contract and it will hold up in court.

 
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