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.
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.
Wells Fargo exec used Malibu Colony home lost by Madoff-duped couple, neighbors say — latimes.com.
Now that’s what I call classy.
Is it just me or is she hotter than ever?
Oh. It’s just me? Okay.
Mr. Blankfien on a cruise last year
Goldman Sachs chief Lloyd Blankfein has turned!
Speaking at the Handelsblatt banking conference yesterday, the CEO said that bankers and traders had behaved irresponsibly and that public backlash against their salaries was justified.
Of course, he’s not offering to give back the $26 million Central Park penthouse he bought last year. I mean, what are you? Some kind of Marxist?
Nevertheless, the Harvard Law School graduate commented: “The industry let the growth and complexity in new instruments outstrip their economic and social utility as well as the operational capacity to manage them.”
He continued by saying, my-god-is-that-the-indoor-pool? House party up in this beeeyotch! Holler!
Pool Party!
No doubt, Mr. Blankfein has done his job and made the rich even richer. He’s been well-paid for his service, so we shouldn’t lose sight of the fact that, although he can’t afford to hide behind a PR firm (yet), we must remember that he is a small fish and this is merely his introduction to the ruling class.
Kyle Hayes
My friend Kyle has a blog. Kyle is The Master.
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