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America’s Urban Distress: Which States And Regions Set Up Their Cities To Fail?
Submitted by F.F. Wiley of CyniconomicsAmerica’s Urban Distress: Which States And Regions Set Up Their Cities To Fail?In 2011, the four U.S. cities with the highest unemployment rates were:Stockton,...
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"Eminent Domain" Bailout Comes To New Jersey
With Richmond, CA's plans to use eminent domain to "help" underwater homeowners still ongoing (as suits from mortgage-backed securities owners such as PIMCO, Blackrock, and DoubleLine having been...
View ArticleDOJ Announces $13 Billion "Largest Ever" Settlement With JP Morgan
To the DOJ, a $13 billion receipt is the "largest ever settlement with a single entity." To #AskJPM, a $13 billion outlay is a 100%+ IRR. And perhaps more relevant, let's recall that JPM holds $550...
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A mortuary of 7,000,000 foreclosures and counting
If a foreclosure happens in the wilderness, does it make a sound? It seems like people have conveniently forgotten that since the housing crisis hit we have witnessed more than 7,000,000+ foreclosures....
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The Greenspan Housing Bubble Lives On: 20 Million Homeowners Can’t Trade-Up...
Submitted by David Stockman via Contra Corner blog,One of the most deplorable aspects of Greenspan’s monetary central planning was the lame proposition that financial bubbles can’t be detected, and...
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Underwater Homeowners "Here To Stay" Zillow Says
A few weeks back we commented on the rather disturbing news that repeat foreclosures jumped in January: According to Black Knight Financial, both new and repeat foreclosures hit a 12-month high during...
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Mark Hanson Is In "Full-Blown, Black-Swan Lookout Mode" For Housing Bubble 2.0
Submitted by Mark Hanson via mhanson.com,Speechless: The Kardashian’s are now house flippers“No more neighbors, friends whose past Real Estate experience is renting an apartment or buying a starter...
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"The Populist Upsurge is Real" When A Liberal College Professor Finds Common...
Submitted by Mike Krieger via Liberty Blitzkrieg blog,People are going to be pissed off no matter who wins this election and that is a very important social dynamic I believe is vastly under...
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Goldman Slammed With $5.1 Billion Fine For "Serious Misconduct" In Mortgage...
Hot on the heels of Wells Fargo's $1.2 billion settlement, Bloomberg reports that Goldman Sachs will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving...
View ArticleHow Obama Booby-Trapped Trump
After doing virtually nothing to help underwater homeowners for 8 years, Obama acted to slightly reduce mortgage insurance payments.But there’s a catch …Obama made sure the program to reduce mortgage...
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