SEC Deregulates Hedge Funds

By: Thursday July 11, 2013 10:23 am

The SEC is back to its old tricks, putting aside the public interest for private concerns. The latest maneuver involves lifting the ban on allowing highly risky investment vehicles known as hedge funds to advertise publicly for the first time. Yes, even in the bubblemania of the 1990s this was not done for fear people [...]

NYT Reports on Investor Purchases of Foreclosed Homes for Rental Conversion

By: Tuesday December 11, 2012 9:15 am

I touched on this before, but this New York Times piece exposing the next bubble, the bulk purchase of foreclosed homes by private equity firms and hedge funds for rental units, is really critical. Basically the same people who were present at the creation of the original bubble are driving the boat in this second [...]

Death By Twinkie: What the Hostess Liquidation Says About Labor and the Economy

By: Friday November 16, 2012 12:45 pm

In good news for people who don’t want to die prematurely because of their diet, Hostess Foods, makers of Twinkies, Ding Dongs, Sno Balls and other inedible confectionaries, will liquidate the company, which is currently suffering through a labor strike. In a statement, Hostess said its bakery operations have been suspended at all plants and [...]

Hedge Fund Blackstone Buying $100 Million in Foreclosed Homes Every Week

By: Thursday November 15, 2012 9:15 am

Speaking of housing, we’re supposed to forget about the fact that the banks committed the largest consumer fraud in history and then paid the meager penalties for it with other people’s money, because we’re in a housing “recovery” now. Let’s forget the past, and look forward, and check out this housing boom, ay? It’s tiring [...]

GOP Campaign Manager, Hedge Fund Employee Responsible for Rumor-Mongering Pranks During NYC Storm

By: Tuesday October 30, 2012 1:09 pm

So here’s an early contender for jerk of the year – a guy blatantly pushing out false Twitter notices of various catastrophes during last night’s Hurricane Sandy storm in New York City. During the storm last night, user @comfortablysmug was the source of a load of frightening but false information about conditions in New York [...]

Romney Profited From Auto Bailout

By: Thursday October 18, 2012 8:30 am

Greg Palast has a new story out about Mitt Romney’s profit from Delphi Automotive, an auto parts subsidiary of GM, during the auto rescue. No bailout of GM—or Chrysler, for that matter—could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009, the federal government sent, directly or [...]

Investor Purchases of Foreclosed Properties Continue

By: Wednesday October 3, 2012 11:00 am

Yestreday, Fannie Mae sold off another chunk of its foreclosed properties as part of a pilot program to process bulk sales to investors who will rent them out in the short term. The beneficiary was a private equity firm. The Cogsville Group, a New York-based firm led by former professional soccer player Donald Cogsville, reached [...]

The Piteous Billionaire: A Ploy to Work the Political Class

By: Monday October 1, 2012 11:57 am

Chrystia Freeland, who has been hanging around billionaires and relaying some of their most embarrassing commentary for a while, does this again for the New Yorker, and basically we hear the same thing we always hear; the fee-fees of the rich and powerful were vewwy vewwy hurt by that mean old Mr. Barack, who called [...]

Education Reform Policies Foster, Rather than Attenuate, America’s Permanent Underclass

By: Monday September 24, 2012 11:19 am

Laura D’Andrea Tyson, the former chair of Bill Clinton’s Council of Economic Advisers and now a professor at UC-Berkeley, had a pretty bold opinion piece in the New York Times the other day, relating income inequality and educational opportunity in ways that I found compelling. The United States is caught in a vicious cycle largely [...]

News Leaks of $1 Billion Blackstone Investment in Foreclosed Properties… Just in Tampa Bay

By: Monday September 24, 2012 8:20 am

I’ve been obsessed lately with the growing evidence of the next speculative housing bubble – the mass quantities of distressed and foreclosed properties being scooped up by hedge funds and other institutional investors, who plan to rent them out for a few years. We see the shift to single-family home rentals in the American Community [...]

More Positive Stats for Housing Ignores Realities on the Ground

By: Wednesday September 19, 2012 11:36 am

The housing analyst community is enthralled again today by good topline news reports. Housing starts increased according to the Census Bureau, though there’s substantial margin for error in that report, plus or minus 10%. The estimate of 750,000 seasonally adjusted annual housing starts was actually below expectations of 768,000, but up year over year. Then [...]

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