The Leveraged Lifestyles of the Rich
It isn’t just the “Real Housewives” who are over-leveraged and living large. Even after the economic crisis mowed down many of the indebted rich, the wealthy continue to borrow to support their lifestyles.
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Source: Wall Street Journal Blogs
Date Published: 22nd June 11
Credit CRISIS Animation Sub Prime just PRETEXT Banks Brokers Mortgages Foreclosure Money and Debt
Subprime US Banking Financial Crisis Explained Simply Part 2
www.informedtrades.com The 2nd lesson in a 3 part series examining the sub prime mortgage US Banking crisis and how this has affected the economy and different financial institutions around the world.
The Law Offices of Kramer and Kaslow: A First Step Toward Fixing the Mortgage Crisis
Lead attorney for Kramer and Kaslow comments on the latest The Financial Times article on the foreclosure crisis
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Source: PRWeb via Yahoo! News
Date Published: 20th June 11
William K. Black Criticizes the Bailout Plan — Might Destroy the Obama Presidency
Regulator from the S&L Crisis opposes Geithner’s plan. Author of “THE BEST WAY TO ROB A BANK IS TO OWN ONE.” Watch the whole interview at: www.theyoungturks.com Watch more at www.theyoungturks.com.
Germany Shuns Confrontation With E.C.B. Over Greece
The compromise seemed to offer some breathing space in Europe’s efforts to confront its potentially ruinous debt crisis.
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Source: New York Times
Date Published: 17th June 11
SEC could file civil fraud charges against some raters
U.S. regulators could file civil fraud charges against some credit-rating agencies for their role in developing mortgage-bond deals that helped bring about the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.
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Source: Reuters via Yahoo! News
Date Published: 17th June 11
Tent cities spring up in LA
Tent cities have sprung up outside Los Angeles as people lose their homes in the mortgage crisis.
Paul Keating On Economic Crisis 2009 part 1 of 3
Former Australian PM / Treasurer give an interview to ABC TV “Lateline” program on the world economic crisis. Interesting point of view on the crisis that is completely at odds with the mass media and current government’s reports, and well worth listening to. Note: Paul Keating was the Australian Labor Government treasurer from 1983-91 and Prime Minister 1991-95. He presided over 2 very nasty recessions, (including his infamous “recession we have to have”), home loan interest rates as high as 17.5% at one point, brought the unwanted cancer of Political correctness to this country and was not my favourite person, but in this video many of the points he makes are thought provoking. His views are a definite change to when he was in power. 2: the “4 pillars” bank policy he refers to – was in relation to the 4 major Australian banks, “Westpac”, “Commonwealth”, “ANZ” and “National” (Now called NAB).
An unusual bankruptcy
Like many homebuilders across the nation, Maronda Homes wound up in a financial bind when the ripple effects of the mortgage lending crisis began to effect the home construction industry starting around 2007. Hundreds of residential developers left a trail of partially completed or abandoned properties as they fell on hard times and went out of business.
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Source: Pittsburgh Post-Gazette
Date Published: 16th June 11
