Wall Street’s Bailout Hustle : Rolling Stone
God bless MATT TAIBBI. He got it right again!
This is the most important issue in America right now and the only magazine to deal with it right is Rolling Stone?
Goldman Sachs and other big banks aren’t just pocketing the trillions we gave them to rescue the economy – they’re re-creating the conditions for another crash.
I have to admit, I do have a soft spot for Jann Wenner.
Incidentally, America’s ruling class should be hopping mad they’re getting fleeced by this corrupt executive compensation system. The bankers run their businesses into the ground because their bonuses are based on year-on-year performance.
That is to say, the easiest way for me to double profits from one year to the next is to crash the company first. Then I can do a mediocre job and look like a rockstar.
Jumbo Mortgage ‘Serious Delinquencies’ Rise to 9.6% (Update1) – Bloomberg.com
U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies,” according to Fitch Ratings.
via Jumbo Mortgage ‘Serious Delinquencies’ Rise to 9.6% (Update1) – Bloomberg.com.
Secret Banking Cabal Emerges From AIG Shadows
Hot potato!
If you don’t stop reading out of anger, this is actually a very good synopsis of what’s gone down — in broad strokes — and why you’re going to want to pick up one of these.
Seriously, that this comes out late on a Friday should only reinforce the significance of this revelation. Crazy damaging news that must be revealed is always done at the start of a weekend or holiday (if possible). It wouldn’t surprise me if they’d hoped for this to come out at the start of the Washington’s Birthday three-day weekend.
In fact, we ought to watch out for more damaging information to show up right around then.
The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
I remember reading about stuff like this back in the 90s; it was all fringe stuff back then. Not so much, any more.
via Secret Banking Cabal Emerges From AIG Shadows: David Reilly – Bloomberg.com.
What Happens When Banks Foreclose on Commercial Properties?
In Downtown Los Angeles, at least eight residential projects and one hotel have fallen into bankruptcy. Some of those projects, along with others in the area, have also faced foreclosure — an equally complex process with just as many possible endings.
via Los Angeles Downtown News and Information – LA Downtown News Online > News > The Big Takeover.
Oregonians Vote to Raise Taxes on Rich, Corporations
Too bad it can’t happen here.
Oregon voters bucked decades of anti-tax and anti-Salem sentiment Tuesday, raising taxes on corporations and the wealthy to prevent further erosion of public schools and other state services.
The tax measures passed easily, with late returns showing a 54 percent to 46 percent ratio. Measure 66 raises taxes on households with taxable income above $250,000, and Measure 67 sets higher minimum taxes on corporations and increases the tax rate on upper-level profits.
Watch as this story gets zero attention in the mass media. This is the first I’d even heard of the ballot measures, and I’m a pretty well-informed guy.
via Oregon voters pass tax increasing measures by big margin | Politics & Elections – - Oregonlive.com.
Case-Shiller Still Predicts Massive 45% Fall From Today’s Values : The Implode-o-Meter Blog
Case-Shiller Still Predicts Massive 45% Fall From Today’s Values : The Implode-o-Meter Blog.
Sweet.
Realtors ponder bottom, bust and WalMart – Lansner on Real Estate : The Orange County Register
Realtors ponder bottom, bust and WalMart – Lansner on Real Estate : The Orange County Register.
FHA may be setting up repeat of housing bubble, lawmakers worry — latimes.com
FHA may be setting up repeat of housing bubble, lawmakers worry — latimes.com.
Apartment Vacancy Rate Set to Break Record – The Home Front (usnews.com)
Apartment Vacancy Rate Set to Break Record – The Home Front (usnews.com).